SCHEME INFORMATION DOCUMENT

ITI ARBITRAGE FUND (An open ended scheme investing in arbitrage opportunities)

New Fund Offer Opened on August 20, 2019

Continuous offer of the Units of the face value of Rs. 10 each for cash at NAV based prices (subject to applicable load)

New Fund Offer Closed on

September 03, 2019 Scheme reopened for Subscription

/ Redemption September 12, 2019

The Statement of Additional Information is incorporated by reference (is legally a part of the Scheme Information Document). For a free copy of the current SAI, please contact your nearest Investor Service Centre or log on to our website. The Scheme Information Document should be read in conjunction with the SAI and not in isolation.

This Scheme Information Document

is dated June 29, 2020.

The particulars of the Scheme have been prepared in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations 1996, (herein after referred to as SEBI (MF) Regulations or the Regulations) as amended till date, and filed with SEBI, along with a Due Diligence Certificate from the Asset Management Company (AMC). The units being offered for public subscription have not been approved or recommended by SEBI nor has SEBI certified the accuracy or adequacy of the Scheme Information Document. The Scheme Information Document sets forth concisely the information about the scheme that a prospective investor ought to know before investing. Before investing, investors should also ascertain about any further changes to this Scheme Information Document after the date of this Document from the Mutual Fund / Investor Service Centres / Website / Distributors or Brokers. The investors / unitholders are advised to refer to the Statement of Additional Information (SAI) for details of ITI Mutual Fund, Tax and Legal issues and general information on www.itimf.com.

Name and Address of

Name and Address of

Name and Address of Mutual Fund Asset Management Company Trustee Company ITI Mutual Fund ITI Asset Management Limited ITI Mutual Fund Trustee Private Limited Naman Midtown ‘A’ - Wing Registered Office: Registered Office: 21st Floor, Senapati Bapat Marg Naman Midtown ‘A’ – Wing Naman Midtown ‘A’ - Wing Elphinstone Road

21st Floor, Senapati Bapat Marg 21st Floor, Senapati Bapat Marg Mumbai 400 013

Elphinstone Road Elphinstone Road Mumbai 400 013 Mumbai 400 013 CIN: U67100MH2008PLC177677 CIN: U65999MH2016PTC287077

Toll Free Number: 1800-266-9603 | Non Toll Free Number: 022-6621 4999 | Email: mfassist@itiorg.com

www.itimf.com

Riskometer

Investors understand that their principal will be at moderately Low risk

This product is suitable for investors who are seeking*:

• To generate income by predominantly investing in arbitrage opportunities

• Investment predominantly in arbitrage opportunities in the cash and derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments

* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

ITI ARBITRAGE FUND

TABLE OF CONTENTS

HIGHLIGHTS/SUMMARY OF THE SCHEME 3

SECTION I - INTRODUCTION 7 A. Risk Factors 7 B. Requirement of Minimum Investors in the Scheme 10 C. Special Considerations 10 D. Definitions 14 E. Due Diligence by the Asset Management Company 19

SECTION II - INFORMATION ABOUT THE SCHEME A. Name & Type of the Scheme 20

B. What is the Investment Objective of the Scheme? 20 C. How will the Scheme allocate its assets? 20 D. Where will the Scheme invest? 23 E. What are the Investment Strategies? 30 F. Investment by the AMC in the Scheme 36 G. Fundamental Attributes 36 H. How will the Scheme Benchmark its Performance? 37 I. Who manages the Scheme? 37 J. What are the Investment Restrictions? 39 K. How has the Scheme Performed? 43 L. Others 44 M. Additional Scheme Disclosures 44

SECTION III - UNITS AND OFFER A. New Fund Offer (NFO) 46

B. Ongoing Offer Details 54 C. Periodic Disclosures 70 D. Computation of NAV 73

SECTION IV - FEES AND EXPENSES A. New Fund Offer (NFO) Expenses 73

B. Annual Scheme Recurring Expenses 73 C. Load Structure 76 D. Waiver of Load for Direct Applications 77 E. Transaction Charges to Distributors 77

SECTION V - RIGHTS OF UNITHOLDERS 78

SECTION VI - PENALTIES, PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF INSPECTIONS OR INVESTIGATIONS FOR WHICH ACTION MAY HAVE BEEN TAKEN OR IS IN THE PROCESS OF BEING TAKEN BY ANY REGULATORY AUTHORITY 78

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HIGHLIGHTS/SUMMARY OF THE SCHEME

Name of the Scheme ITI Arbitrage Fund Type of Scheme An open ended scheme investing in Arbitrage opportunities Investment objective The investment objective of the Scheme is to generate income by

predominantly investing in arbitrage opportunities in the cash and the derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments. However, there is no assurance that the investment objective of the scheme will be realized.

Benchmark Nifty 50 Arbitrage Index The Trustees reserves the right to change the benchmark for evaluation of the performance of the Scheme from time to time, subject to SEBI Regulations and other prevailing guidelines if any.

Liquidity Units may be purchased or redeemed at NAV, subject to applicable Loads (if any), on every Business Day on an ongoing basis, commencing not later than 5 (five) Business Days from the date of allotment. The Mutual Fund will endeavour to dispatch Redemption proceeds within 10 Business Days from the date of acceptance of Redemption request. However, in certain circumstances [outlined in Section I- ‘Restrictions on Redemptions’] restrictions on redemptions may be imposed.

Transparency/NAV Disclosure

The AMC will calculate and disclose the first NAV of the Scheme within 5 business days from the date of allotment. Subsequently, the NAV will be calculated and disclosed at the close of every Business Day and uploaded on the AMFI website www.amfiindia.com and ITI Mutual fund website i.e. www.itimf.com by 11.00 p.m. on the day of the declaration of the NAV. In case of any delay, the reasons for such delay would be explained to AMFI in writing. If the NAVs are not available before the commencement of Business Hours on the following day due to any reason, the Mutual Fund shall issue a press release giving reasons and explaining when the Mutual Fund would be able to publish the NAV. The NAV of the Scheme will be calculated and declared by the Fund on every Working Day. The information on NAV may be obtained by the Unitholders, on any business day from the office of the AMC / the office of the Registrar in Hyderabad or any of the other Designated Investor Service Centres. The AMC will disclose portfolios (along with ISIN) in user friendly and downloadable spreadsheet format, as on the last day of the month/half year for all the schemes on its website (www.itimf.com) and on the website of AMFI (www.amfiindia.com) within such timelines as may be prescribed under the Regulations from time to time. In case of unitholders whose email addresses are registered, the AMC shall send via email both the monthly and half yearly statement of scheme portfolio within 10 days from the close of each month/half year respectively. The AMC will publish an advertisement every half-year, in the all India edition of at least two daily newspapers, one each in English and Hindi, disclosing the hosting of the half yearly statement of the scheme portfolio on the AMC’s website (www.itimf.com) and on the website of AMFI (www.amfiindia.com) and the modes such as telephone, email or written request (letter) through which an unitholder can submit a request for a physical or electronic copy of the

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statement of scheme portfolio. The AMC will provide physical copy of the statement of scheme portfolio without any cost, on specific request received from a unitholder. The Annual Report or Abridged summary thereof in the format prescribed by SEBI will be hosted within four months from the date of closure of the relevant accounting year (i.e. March 31st each year) on AMC’s website (www.itimf.com) and on the website of AMFI (www.amfiindia.com). The Annual Report or Abridged Summary thereof will also be sent by way of e-mail to the Unit holder’s registered e-mail address Unit holders, who have not registered their email address, will have an option of receiving a physical copy of the Annual Report or Abridged summary thereof. The Fund will provide a physical copy of the abridged summary of the Annual Report, without charging any cost, on specific request received from a Unit holder. Physical copies of the report will also be available to the Unit holders at the registered office at all times. The Fund will publish an advertisement every year, in the all India edition of at least two daily newspapers, one each in English and Hindi, disclosing the hosting of the scheme wise annual report on the AMC’s website (www.itimf.com) and on the website of AMFI (www.amfiindia.com) and the modes such as SMS, telephone, email or written request (letter) through which a unitholder can submit a request for a physical or electronic copy of the scheme wise annual report or abridged summary thereof.

The AMC will also provide a dashboard, in a comparable, downloadable (spreadsheet) and machine readable format, providing performance and key disclosures like Scheme’s AUM, investment objective, expense ratios, portfolio details, scheme’s past performance etc. on its website.

Loads Entry Load – Not Applicable Exit Load - • If the Units are redeemed / switched out on or before 30 days from the date of allotment – 0.25%.

• If the Units are redeemed / switched out after 30 days from the date of allotment – NIL.

Inter scheme Switch: At the applicable exit loads in the respective schemes. Redemption /Switch-Out of Units would be done on First in First out Basis (FIFO). *The entire Exit Load, net of Goods & service tax, shall be credited to the Scheme. For more details on Load Structure, please refer paragraph “Load Structure”.

Minimum application Amount

Rs. 5,000/- and in multiples of Rs. 1/- thereafter

Minimum additional application amount (for subsequent investments under an existing folio)

Rs. 1,000/- and in multiples of Rs. 1/- thereafter

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Minimum redemption Amount

Rs. 1,000/- and in multiples of Rs. 1/- thereafter or the account balance, whichever is lower. There will be no minimum redemption criterion for Unit based redemption.

Scheme Plans & Options The Scheme will have two Plans i.e. Direct Plan and Regular Plan with a common portfolio and separate NAVs. Direct Plan is only for investors who purchase /subscribe Units in the scheme directly with the Fund and is not available for investors who route their investments through a Distributor. Both Direct and Regular Plan(s) offers two Options, viz., (i) Growth Option; and (ii) Dividend Option (with Reinvestment and Payout options) Under the Growth option, no dividend will be declared. Under the Dividend option, dividend may be declared by the Trustee, at its discretion, from time to time (subject to the availability of distributable surplus as calculated in accordance with the SEBI Regulations). If the investor does not clearly specify the choice of option (Growth / Dividend) at the time of investing, it will be treated as a Growth option. If the investor does not clearly specify at the time of investing, the choice of option under Dividend, it will be treated as a dividend reinvestment option. In case, the dividend amount is less than Rs. 500/-, then it will be compulsorily reinvested in the existing plan of the scheme, invested by the investor. The Trustee may decide to distribute by way of dividend, the surplus by way of realised profit, dividends and interest, net of losses, expenses and taxes, if any, to Unit-holders in the Dividend option of the Scheme if such surplus is available and adequate for distribution in the opinion of the Trustee. The Trustee’s decision with regard to availability and adequacy, rate, timing and frequency of distribution shall be final. The dividend will be due to only those Unit-holders whose names appear in the register of Unit Holders in the dividend option of the Scheme on the record date.

Transaction Charges to Distributors

In accordance with the terms of SEBI Circular Cir/ IMD/ DF/13/ 2011 dated August 22, 2011 on Transaction Charges, the AMC/Mutual Fund shall deduct the Transaction Charges on purchase / subscription received from first time mutual fund investors and investors other than first time mutual fund investors through the distributor (who have specifically opted in to receive the transaction charges)as under: First Time Mutual Fund Investor (across Mutual Funds): Transaction charge of Rs. 150/- for subscription of Rs. 10,000 and above will be deducted from the subscription amount and paid to the distributor/agent of the first time investor and the balance amount shall be invested. Investor other than First Time Mutual Fund Investor:

Transaction charge of Rs.100/- per subscription of Rs.10,000 and above will be deducted from the subscription amount and paid to the distributor/agent of the existing investor and the balance amount shall be invested.

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Distributors shall be able to choose to “opt in” OR “opt out” of charging the transaction charge. However, the option exercised by the Distributor is required to be at distributor level and may be based on type of product but not at investor level i.e. a distributor shall not charge one investor and choose not to charge another investor. Transaction charges shall not be deducted for (i) purchases/ subscriptions made directly with the Fund (i.e. not through any distributor); (ii) purchase /subscriptions below Rs.10,000/- and (iii) transactions other than purchases/ subscriptions relating to new inflows such as Switch/STP/SWP/DTP etc. For further details on Transaction Charges, refer to the sub section E. ‘Transaction Charges to Distributors’ under Section IV. ‘Fees and Expenses’ in this document.

Option to hold Units in dematerialised form

The Unit holders are given an Option to hold the units in Physical form (by way of an Account Statement) or dematerialized (‘Demat’) form. The Applicants intending to hold the Units in dematerialised mode will be required to have a beneficiary account with a DP of the NSDL/CDSL and will be required to mention the DP's name, DP ID no and Beneficiary Account No. with the DP in the application form at the time of subscription/ additional purchase of the Units of the Scheme/Plan/Option. Further, investors also have an option to convert their physical holdings into the dematerialised mode at a later date. Each Option under each Plan held in the dematerialised form shall be identified on the basis of an International Securities Identification Number (ISIN) allotted by National Securities Depositories Limited (NSDL) and Central Depository Services Limited (CDSL). The ISIN no details of the respective option under the respective Plan can be obtained from your Depository Participant (DP) or the investors can access the website link www.nsdl.co.in or www.cdslindia.com.The holding of units in the dematerialised mode would be subject to the guidelines/ procedural requirements as laid by the Depositories viz. NSDL/CDSL from time to time. For further details, refer section III ‘Units and Offer’.

Transfer of Units The Unit holders are given an option to hold the Units in physical form (by way of an account statement) or in dematerialized form (Demat). In order to be able to transfer units held by way of an account statement, the investors would either have to request for unit certificates for the said holdings or convert their physical holdings into the dematerialised mode. The Asset Management Company shall, on production of instrument of transfer together with relevant unit certificates, register the transfer and return the unit certificate to the transferee within thirty days from the date of such production. The Units of the Scheme held in the dematerialised form will be fully and freely transferable (subject to lock-in period, if any and subject to lien, if any marked on the units) in accordance with the provisions of SEBI (Depositories and Participants) Regulations, 1996 as may be amended from time to time and as stated in SEBI Circular No. CIR/IMD/DF/10/2010 dated August 18, 2010. Further, for the procedure of release of lien, the investors shall contact their respective DP.

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I. INTRODUCTION

A. RISK FACTORS

i. Standard Risk Factors:

1) Investment in Mutual Fund Units involves investment risks such as trading volumes, settlement risk, liquidity risk, default risk including the possible loss of principal.

2) As the price / value / interest rate of the securities in which the Scheme invests fluctuates, the value of your investment in the Scheme may go up or down, depending on the various factors and forces affecting the capital markets.

3) Past performance of the Sponsors/AMC/Mutual Fund does not guarantee future performance of the Scheme.

4) The name of the Scheme does not in any manner indicates either the quality of the Scheme or its future prospects and returns.

5) The Sponsors are not responsible or liable for any loss resulting from the operation of the Scheme beyond the initial contribution of an amount of Rs. 1 lakh made by it towards setting up the Fund.

6) ITI Arbitrage Fund is not a guaranteed or assured return Scheme.

ii. Scheme Specific Risk Factors:

The performance of the Scheme may be affected by changes in Government policies, general levels of interest rates and risks associated with trading volumes, liquidity and settlement systems, etc. Some of the Scheme specific risks are listed below: • There can be no assurance or guarantee that the arbitrage opportunities may exist at all times in the capital market. The lack of arbitrage opportunities shall not provide an opportunity to the Fund Manager to exploit price differences in the capital markets. • In case of heavy redemptions before the Expiry Day (last Thursday of every month or any day specified by the exchange), the liquidity and/or NAV of the Scheme might be affected. In such cases, the Fund Manager may be required to unwind positions in derivative segments before the Expiry Day, which may result in a fall in NAV. • The performance of the Scheme will depend on the ability of the Fund Manager to identify suitable opportunities in the cash and derivative market. No assurance can be given that Fund Manager will be able to locate investment opportunities or to correctly exploit price spread in the equity markets. There may be instances where the price spread between cash and derivative market is insufficient to meet the cost of carry. In such situations, the Fund Manager due to lack of opportunities in the derivative market, may not be able to outperform liquid/money market funds. In addition to this, there can be increase in number of transactions as the Fund Manager has to take simultaneous calls in cash and derivative market, which may lead to high portfolio turnover and consequently will lead to high transaction costs.

a) Risks associated with investing in Equities and Equity related Securities: The value of the Scheme’s investments may be affected generally by factors affecting securities markets, such as price and volume volatility in the capital markets, etc. Settlement periods and transfer procedures may restrict the liquidity of the investments made by the Scheme. The Scheme may face liquidity risk or execution risk or redemption risk or the risk of NAV going below par. At times, taking benefit of investing in Special Situations may involve certain risks like the promoter may choose not to accept the discovered prices or the Regulatory hurdles may delay any specific corporate action. For details, please refer SAI.

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Risks related to Special situations: Special Situations are out of the ordinary situations that companies find themselves in, from time to time. Such situations present an investment opportunity to the Fund Manager who can judge the implications of that opportunity that can unlock value for investors. Such trades are subject to all such risks that any equity security may have; however in certain cases the risks can be more specific as mentioned below: • The promoter may choose not to accept the discovered prices; • Regulatory hurdles may delay any specific corporate action b) Risks associated with Fixed Income / Money Market instruments:

Interest rate risk: Price of a fixed income instrument generally falls when the interest rates move up and vice- versa. The extent of fall or rise in the prices depends upon the coupon and maturity of the security. It also depends upon the yield level at which the security is being traded. The NAV of the Scheme is expected to increase from a fall interest rates while it would be adversely affected by an increase in the level of interest rates. Spread risk: In a floating rate security the coupon is expressed in terms of a spread or mark up over the benchmark rate. In the life of the security this spread may move adversely leading to loss in value of the portfolio. The yield of the underlying benchmark might not change, but the spread of the security over the underlying benchmark might increase leading to loss in value of the security. Credit risk or default risk: Credit risk is the risk that the issuer of a debenture/ bond or a money market instrument may default on interest and/or principal payment obligations. Even when there is no default, the price of a security may change with expected changes in the credit rating of the issuer. It is to be noted here that a Government Security is a sovereign security and is the safest. Corporate bonds carry a higher amount of credit risk than Government Securities. Within corporate bonds also there are different levels of safety and a bond rated higher by a particular rating agency is safer than a bond rated lower by the same rating agency. Liquidity & Settlement Risk: The liquidity of a fixed income security may change, depending on market conditions leading to changes in the liquidity premium attached to the price of such securities. At the time of selling the security, the security can become illiquid, leading to loss in value of the portfolio. Different segments of the financial markets have different settlement cycle/periods and such settlement cycle/periods may be impacted by unforeseen circumstances, leading to Settlement Risk. This can adversely affect the ability of the Fund to swiftly execute trading strategies which can lead to adverse movements in NAV. Reinvestment risk: Interest rates may vary from time to time. The rate at which intermediate cash flows are reinvested may differ from the original interest rates on the security, which can affect the total earnings from the security. Performance Risk: Performance of the Scheme may be impacted with changes in factors, which affect the capital market and in particular the debt market. Prepayment Risk: The Scheme may receive payment of monthly cash flows earlier than scheduled, which may result in reinvestment risk. Market risk: Lower rated or unrated securities are more likely to react to developments affecting the market as they tend to be more sensitive to changes in economic conditions than higher rated securities. c) Risks associated with Derivatives

Derivative products are leveraged instruments and can provide disproportionate gains as well as disproportionate losses to the investor. Execution of such strategies depends upon the ability of the fund manager to identify such opportunities. Identification and execution of the strategies to be pursued by the fund

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manager involve uncertainty and decision of fund manager may not always be profitable. No assurance can be given that the fund manager will be able to identify or execute such strategies. The risks associated with the use of derivatives are different from or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Trading in derivatives has the following risks:

a. An exposure to derivatives in excess of the hedging requirements can lead to losses. b. An exposure to derivatives can also limit the profits from a genuine investment transaction. c. Efficiency of a derivatives market depends on the development of a liquid and efficient market for the

underlying securities. d. Derivatives carry the risk of adverse changes in the market price. e. Illiquidity Risk i.e. risk that a derivative trade cannot be executed or reversed quickly enough at a fair

price, due to lack of liquidity in the market. The Fund may use derivatives instruments like equity futures & options, or other derivative instruments as permitted under the Regulations and Guidelines. Usage of derivatives will expose the Scheme to liquidity risk, open position risk, and opportunities risk etc. Such risks include the risk of mispricing or improper valuation and the inability of derivatives to correlate perfectly with underlying assets, rates and indices. In case of the derivative strategies, it may not be possible to square off the cash position against the corresponding derivative position at the exact closing price available in the Value Weighted Average Period. Debt derivatives instruments like interest rate swaps, forward rate agreements or other derivative instruments also involve certain risks. For details, please refer SAI. d) Common risk factors affecting the Arbitrage Strategies followed by this Scheme are as under:

Liquidity Risk: In case of Arbitrage trades, under abnormal circumstances it will be difficult to square off the transaction due to liquidity being poor in the underlying stock, stock futures or options market. However the fund will aim at taking exposure only into liquid stocks/derivatives where there will be minimal risk to square off the transaction. The fund will ensure this by analyzing historical data of volume and open interest.

Open position Risk: If the fund is not able to have a net market-neutral position due to any operational reasons, the scheme at times is exposed to movement in the prices of the underlying. The Scheme will endeavour to cover or square off the positions as soon as possible.

Opportunities Risk: For any arbitrage strategy, where the cost of carry reduces drastically (in a depressed market conditions), there will be less opportunity for fund manager to generate returns that can exceed money market returns. In absence of profitable arbitrage opportunities available in the market, the scheme may predominantly invest in cash, short term debt and money market securities.

Execution Risk: The prices which are seen on the screen need not be the same at which execution will take place.

Mark to Market Risk: Options arbitrage is a risk free strategy, however there could be a mark to market loss that would arise and additional margin may need to be provided for the same.

Basis Risk: In extraordinary circumstances, the Fund Manager may have to unwind positions before the expiry at a basis which maybe higher than the initiation basis to meet redemptions. Premature unwinding of the position might result in the locked in profits not getting realized.

Corporate Action Risk: In the case of arbitrage in corporate actions, the corporate action might get delayed due to regulatory hurdles or other unforeseen circumstances. This might affect the yield expected from the specific trade.

Tracking Error Risk: This risk is specific to Index arbitrage. Corporate actions such as demergers might result in the weights of the index stocks to change. This might lead to a tracking error affecting the returns to a certain extent.

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e) Risks associated with investing in Securities Segment and Tri-party Repo trade settlement

The mutual fund is a member of securities segment and Tri-party Repo trade settlement of the Clearing Corporation of India (CCIL). All transactions of the mutual fund in government securities and in Tri-party Repo trades are settled centrally through the infrastructure and settlement systems provided by CCIL; thus reducing the settlement and counterparty risks considerably for transactions in the said segments. The members are required to contribute an amount as communicated by CCIL from time to time to the default fund maintained by CCIL as a part of the default waterfall (a loss mitigating measure of CCIL in case of default by any member in settling transactions routed through CCIL). CCIL shall maintain two separate Default Funds in respect of its Securities Segment, one with a view to meet losses arising out of any default by its members from outright and repo trades and the other for meeting losses arising out of any default by its members from Triparty Repo trades. The mutual fund is exposed to the extent of its contribution to the default fund of CCIL at any given point in time i.e. in the event that the default waterfall is triggered and the contribution of the mutual fund is called upon to absorb settlement/default losses of another member by CCIL, the scheme may lose an amount equivalent to its contribution to the default fund. f) Risks associated with transaction in Units through stock exchange(s):

In respect of transaction in Units of the Scheme through BSE and / or NSE (applicable to the facility to transact in the Units of the Scheme through the Stock Exchange mechanism provided by the AMC), allotment and redemption of Units on any Business Day will depend upon the order processing / settlement by BSE and / or NSE and their respective clearing corporations on which the Fund has no control.

g) Risks associated with Restrictions on Redemption: As outlined in Section I – ‘Restrictions on Redemptions’ the Trustee and the AMC may impose restrictions on redemptions when there are circumstances leading to a systemic crisis or event that severely constricts market liquidity or the efficient functioning of markets. Accordingly, such restriction may affect the liquidity of the Scheme and there may be a delay in investors receiving part of their redemption proceeds. B. REQUIREMENT OF MINIMUM INVESTORS IN THE SCHEME

The Scheme shall have a minimum of 20 investors and no single investor shall account for more than 25% of the corpus of the Scheme. However, if such limit is breached during the NFO of the Scheme, the Fund will endeavour to ensure that within a period of three months or the end of the succeeding calendar quarter from the close of the NFO of the Scheme, whichever is earlier, the Scheme complies with these two conditions. In case the Scheme does not have a minimum of 20 investors in the stipulated period, the provisions of Regulation 39(2)(c) of the SEBI (MF) Regulations would become applicable automatically without any reference from SEBI and accordingly the Scheme shall be wound up and the units would be redeemed at Applicable NAV. The two conditions mentioned above shall also be complied within each subsequent calendar quarter thereafter, on an average basis, as specified by SEBI. If there is a breach of the 25% limit by any investor over the quarter, a rebalancing period of one month would be allowed and thereafter the investor who is in breach of the rule shall be given 15 days notice to redeem his exposure over the 25 % limit. Failure on the part of the said investor to redeem his exposure over the 25 % limit within the aforesaid 15 days would lead to automatic redemption by the Mutual Fund on the Applicable Net Asset Value on the 15th day of the notice period. The Fund shall adhere to the requirements prescribed by SEBI from time to time in this regard.

C. SPECIALCONSIDERATIONS

• The Sponsor is not responsible or liable for any loss resulting from the operation of the Scheme

beyond the initial contribution of an amount of Rs 1,00,000/- (Rupees One Lakh only) made by it towards setting up the Mutual Fund or such other accretions and additions to the initial corpus set up by the Sponsor. The associates of the Sponsor are not responsible or liable for any loss or

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shortfall resulting from the operation of the Scheme.

• Neither this SID, SAI nor the units have been filed / registered in any jurisdiction other than India. The distribution of this SID in certain jurisdictions may be restricted or totally prohibited and accordingly, persons who come into possession of this SID are required to inform themselves about, and to comply with, any such restrictions.

• Before making an application for Units, prospective investors should review / study this SID and the SAI carefully and in their entirety and should not construe the contents thereof or regard the summaries contained therein as advice relating to legal, taxation, or financial / investment matters. Investors should consult their own professional advisor(s) as to the legal, tax or financial implications or other consequences resulting from the following: - Subscription, gifting, acquisition, holding, disposal (by way of sale, switch or Redemption or conversion into money) of Units; and To the treatment of income (if any), capitalisation, (by way of sale, switch or Redemption or conversion into money) of Units; and - To the treatment of income (if any), capitalisation capital gains, any distribution and other tax consequences relevant to their Subscription, acquisition, holding, capitalisation, disposal (by way of sale, transfer, switch, Redemption or conversion into money) of Units within their jurisdiction or under the laws of any jurisdiction to which they may be subject.

• Neither the Mutual Fund nor the Sponsor nor the AMC has authorized any person to give any information or make any representation, either oral or written, that is not consistent with this SID in connection with the issue of Units. Prospective investors are advised not to rely on any information or representation not incorporated in this SID, unless it has been authorized by the Mutual Fund, the AMC or the Sponsor. Any subscription or Redemption made by any person on the basis of statements or representations which are not contained or which are inconsistent with the information contained in this SID shall be solely at the risk of the investor.

• Mutual funds invest in Securities which may not always be profitable and there can be no guarantee against loss resulting from investing in the Scheme.

• The tax benefits described in this SID are as available under the prevailing taxation laws. The information given is included only for general purpose and is based on the advice received by the AMC regarding the laws and practice currently in force in India. Investors / Unit Holders should be aware that the relevant fiscal rules or their interpretation may change. As is the case with any investment, there can be no guarantee that the tax position or the proposed tax position prevailing at the time of an investment in the Scheme will endure indefinitely. In view of the individual nature of tax consequences, each Unit Holder is advised to consult their own professional tax advisor.

• Mutual funds invest in Securities which may not always be profitable and there can be no guarantee against loss resulting from investing in the Scheme. The Scheme’s value may be impacted by fluctuations in the bond markets, fluctuations in interest rates, prevailing political, economic and social environments, changes in government policies and other factors specific to the issuer of the securities, tax Laws, liquidity of the underlying instruments, settlement periods, trading volumes etc.

• Redemptions due to a change in the fundamental attribute of the Scheme or due to any other reason may entail tax consequences. Such taxes, if any, shall be borne by the investor and neither the Trustee, Mutual Fund nor the Scheme or the AMC shall be liable for any tax consequences that may arise.

• In terms of the Prevention of Money Laundering Act, 2002 (“PMLA”) the rules issued there under and the guidelines / circulars issued by SEBI regarding the Anti Money Laundering Laws, all intermediaries, including mutual funds, are required to formulate and implement a client identification programme, and to verify and maintain the record of identity and addresses of investors. If any necessary due diligence, the AMC believes that any transaction is suspicious in nature as regards money laundering, the AMC shall report such transactions to competent authorities under PMLA and the circulars thereunder, further any further information in connection therewith to such authorities ad take any actions as may be required for the purposes of fulfilling its obligations under PMLA and rules / guidelines issued thereunder by SEBI and / or RBI without

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obtaining the prior approval of the investor / unit holder.

• The AMC can invest in any of the Schemes of ITI Mutual Fund subject to the limits as prescribed by the SEBI Regulations and in such cases it will not be entitled to charge any fees on such investments. The Sponsor, entities managed or sponsored by the affiliates or associates of the Sponsor, Funds managed / advised by the Sponsor / and their associated entities, the asset management company, the Custodian, the Registrar, any Associate, any Distributor, Dealer, any Company, Corporate Bodies, Trusts, any Service Provider, investor (resident or non resident), any Scheme / Mutual Fund managed by the Asset Management Company or by any other Asset Management Company may invest in this Scheme, subject to the limits specified by SEBI. While at all times the Trusteeship Company and the Asset Management Company will endeavor that excessive holding of Units in the Scheme among a few Unit holders is avoided, however, the funds invested by these aforesaid persons may acquire a substantial portion of the Scheme’s outstanding Units and collectively may constitute a majority unit holder in the Scheme. Redemption of Units held by such persons may have an adverse impact on the value of the Units of the Scheme because of the timing of any such redemption. It may also have impact on the liquidity of the Scheme, which may lead to an adverse impact on the NAV of the Scheme.

• As the liquidity of the Scheme investments may sometimes be restricted when there are circumstances leading to a systemic crisis or event that severely constricts market liquidity or efficient functioning of markets, the time taken by the Fund for Redemption of Units (subject to lock in period, if any) may be significant during such events. In view of this, the AMC has the right, in its sole discretion, on the basis of specific approval of the Board of Directors of the AMC and the Trustee Company, and in accordance with applicable regulations, circulars and other prevalent guidelines, to limit redemptions under certain circumstances. Please refer to the paragraph “Right to Limit Redemption” in the SAI for further details.

• In accordance with the SEBI Regulations, an AMC subject to certain conditions is permitted to undertake activities in the nature of portfolio management services and management and advisory services to pooled assets including offshore funds, insurance funds, pension funds, provident funds, if any of such activities are not in conflict with the activities of the Mutual Fund. Subject to these activities being assessed as desirable and economically viable, the AMC may undertake any or all of these activities after satisfying itself that there is no potential conflict of interest.

Investors are advised to refer to the terms and conditions of the offer before investing in the scheme, and to retain this SID and SAI for future reference. Right to Limit Redemptions

Subject to the approval of Board of Directors of the AMC and Trustee Company and immediate intimation to SEBI, a restriction on redemptions may be imposed by the Scheme when there are circumstances, which the AMC / Trustee believe that may lead to a systemic crisis or event that constrict liquidity of most securities or the efficient functioning of markets such as:

1. Liquidity issues - when market at large becomes illiquid affecting almost all securities rather than any

issuer specific security.

2. Market failures, exchange closures - when markets are affected by unexpected events which impact the functioning of exchanges or the regular course of transactions. Such unexpected events could also be related to political, economic, military, monetary or other emergencies.

3. Operational issues – when exceptional circumstances are caused by force majeure, unpredictable operational problems and technical failures (e.g. a black out). Such cases can only be considered if they are reasonably unpredictable and occur in spite of appropriate diligence of third parties, adequate and effective disaster recovery procedures and systems.

Such restriction on redemption may be imposed for a specified period of time not exceeding 10 working days in any 90 days period. However, if exceptional circumstances / systemic crisis referred above continues

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beyond the expected timelines, the restriction may be extended further subject to the prior approval of Board of Directors of the AMC and Trustee Company giving details of circumstances and justification for seeking such extension shall also be informed to SEBI in advance.

Procedure to be followed while imposing restriction on redemptions a. No redemption requests upto Rs. 2 lakhs per request shall be subject to such restriction;

b. Where redemption requests are above Rs. 2 lakhs:

i. The AMC shall redeem the first Rs. 2 lakhs of each redemption request, without such restriction; ii. Remaining part over and above Rs. 2 lakhs shall be subject to such restriction and be dealt as under:

- Any Units which are not redeemed on a particular Business Day will be carried forward for Redemption to the next Business Day, in order of receipt.

- Redemptions so carried forward will be priced on the basis of the Applicable NAV (subject to the prevailing Load, if any) of the subsequent Business Day(s) on which redemptions are being processed.

Under such circumstances, to the extent multiple redemption requests are received at the same time on a single Business Day, redemptions will be made on a prorate basis based on the size of each redemption request, the balance amount being carried forward for redemption to the next Business Day.

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D. DEFINITIONS In this SID, except where the context otherwise requires, the following capitalized words and expressions shall have the following meaning:

Act The Income-tax Act, 1961 ADR American Depository Receipt AMFI Association of Mutual Funds in India AOP Association of Persons. Application Form A form to be used by an investor to open a folio and Purchase Units in the Scheme.

Any modifications to the Application Form will be made by way of an addendum issued by the AMC, which will be attached thereto. On issuance of such addendum, the Application Form will be deemed to be updated by the addendum.

ARN AMFI Registration Number. Asset Management Company / AMC

ITI Asset Management Limited, the asset management company set up under the Companies Act, 1956 and authorized by SEBI to act as the asset management company to the Schemes of ITI Mutual Fund.

Assesse A Unit Holder who is (i) an individual; or (ii) a Hindu undivided family; or (iii) an association of persons or a body of individuals consisting, in either case, only of husband and wife governed by the system of community of property in force in the State of Goa and Union Territories of Dadra and Nagar Haveli and Daman and Diu by whom, or on whose behalf, investment is made, and as defined under the ELSS.

Board Board of Directors BoI Body of Individuals Business Day A day other than (i) Saturday or Sunday and / or (ii) a day on which any of the principal

stock exchanges on which the Investments are traded is closed, and / or (iii) a day on which the Reserve Bank of India or banks in Mumbai, India are closed for business, and / or (iv) a day on which the AMC’s offices in Mumbai, India are closed for business, and / or (v) a book closure period as may be announced by the Trustee / AMC and / or (vi) a day on which normal business cannot be transacted due to force majeure events including storms, floods, Bandhs, strikes or such other events as the AMC may determine from time to time. The AMC, with the approval of the Trustee of the Scheme, reserves the right to change the definition of Business Day, in accordance with applicable regulations. The AMC reserves the right to declare any day as a Business Day or otherwise at any or all Investor Service Centres.

CAS Consolidated Account Statement contain details relating to all Purchases, redemptions, switches, dividend payouts, dividend reinvestments, SIPs, SWPs and STPs (“Transactions”) carried out by the investor across all schemes of all mutual funds during the month and holding at the end of the month including transaction charges paid to the distributor.

CDSL Central Depository Services (India) Limited.

Custodian Deutsche Bank AG, registered under the SEBI (Custodian of Securities) Regulations, 1996, or any other custodian who is approved by the Trustee

Cut-off time

A time prescribed in this SID up to which an investor can submit a Purchase request along with a local cheque or a demand draft payable at the place where the application is received / Redemption, to be entitled to the Applicable NAV for that Business Day.

Debt securities Debt and debt related instruments Demand Draft Payment instrument issued by a bank against a customer’s request based on the

deduction of required amount or deposit of the same by customer. Depository / Depositories

As defined in the Depositories Act, 1996 (22 of 1996).

Depository Participant A person registered as such under sub-section (1A) of section 12 of the Securities and Exchange Board of India Act, 1992.

Designated Collection AMC’s offices, ISCs and branches of Collection Bank(s) designated by the AMC where

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Centre(s) the applications shall be received. The names and addresses of the Designated Collection Centres are mentioned at the end of this SID

ECS Electronic Clearing System. EFT Electronic Fund Transfer

Entry Load

A Load charged to an investor on Purchase of Units based on the amount of investment or per any other criteria decided by the AMC. As per the current SEBI Regulations, the AMC is prohibited from charging an Entry Load.

ETFs Exchange Traded Funds.

Exit Load

A Load charged to the Unit Holder on exiting (by way of Redemption [or Switch-out) based on period of holding, amount of investment, or any other criteria decided by the AMC.

FATCA Foreign Account Tax Compliance Act. FATF Financial Action Task Force.

FCNR account Foreign Currency Non Resident account is a non-Rupee (foreign exchange) bank account of non-resident Indians.

Foreign Portfolio Investors / FPI

An entity registered with SEBI under Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014, as amended from time to time.

FRM Financial Risk Managers. Fund Manager(s) The fund manager(s) of the AMC responsible for managing the Scheme.

Fund of Funds / FoF A mutual fund scheme that invests primarily in other schemes of the same mutual fund or other mutual funds.

GARP Global Association of Risk Professionals. GDR Global Depository Receipt. GoI Government of India. GoI Securities Government of India Securities HUF Hindu Undivided Family. Indian Financial System Code / IFSC

An alpha-numeric code that uniquely identifies a bank-branch participating in the National Electronic Funds Transfer system.

IR Code US Internal Revenue Code. IRS Internal Revenue Service

Investment Any investments, cash, negotiable instruments, Securities or bullion for the time being and from time to time forming part of the Scheme’s assets.

Investment Committee Committee set up under Investment and Valuation Guidelines of SEBI (MF) Regulations.

Investor Service Centres / ISCs and Transaction Acceptance Points

Official points of acceptance of transaction / service requests from investors. These will be designated by the AMC from time to time.

IPO Initial Public Offering.

Karta

Karta is the most senior person in HUF who takes decisions regarding social and economical aspects of the joint family. By way of HUF law, Karta has complete control over the family’s welfare, wealth and property.

Key Information Memorandum / KIM

A memorandum containing the key information of the Scheme, the format of which is prescribed in the SEBI Circular SEBI/IMD/CIR No. 5/126096/08 dated 23 May, 2008, or as further prescribed by SEBI from time to time.

Know-Your-Client / KYC

A client identification process for which SEBI has prescribed certain requirements relating to KYC norms for mutual funds to know their clients. This would be in the form of verification of identity and address, providing information of financial status, occupation and such other demographic information.

Laws

The laws of India, the SEBI Regulations and any other applicable regulations for the time being in force in India including guidelines, directions and instructions issued by SEBI, the GoI or RBI from time to time for regulating mutual funds generally or the Mutual Fund particularly.

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Loads Entry Loads and / or Exit Loads (collectively), if any. LTV Loans to Value Ratio Main Portfolio Main Portfolio means the scheme portfolio excluding the segregated portfolio. MIBOR Mumbai Interbank Offer Rate MFSS / BSE STAR MF Mutual fund unit’s online transaction platform offered by NSE and BSE respectively.

MICR Magnetic Ink Character Recognition Code is a numeric code that uniquely identifies a bank- branch participating in the Electronic Clearing Service credit scheme.

Money Market Instruments

Money market instruments include commercial papers, commercial bills, treasury bills, GoI Securities having an unexpired maturity up to one year, call or notice money, certificates of deposit, usance bills, re-purchase agreements , Tri Party Repo and any other like instruments as specified by the RBI from time to time.

Multiple Banks Accounts

As per SEBI Regulations, certain category of investors is allowed to provide multiple bank account mandates for credit of redemptions and dividend proceeds.

Mutual Fund

ITI Mutual Fund, a trust set up under the provisions of the Indian Trusts Act, 1882 and registered as a Mutual Fund with SEBI bearing SEBI Registration No. MF/073/18/01 dated May 14, 2018.

NAV Net asset value of the Units calculated in the manner provided in this SID or as may be prescribed by the SEBI Regulations from time to time.

NEFT National Electronic Funds Transfer.

New Fund Offer / NFO The offer for purchase of Units of the Scheme (including Plans thereunder) made to the investors during the NFO Period.

New Fund Offer Period / NFO Period

The date on or the period during which the initial subscription of Units of the Scheme can be made subject to extension, if any, such that the NFO Period does not exceed 15 days.

New Pension System / NPS

General pension system introduced by GoI for Indian residents in line with Government Provident Schemes.

NRE Non-Resident External.

Non Resident Indian / NRI

A person resident outside India who is a citizen of India or is a Person of Indian Origin as per the meaning assigned to the term under the Foreign Exchange Management (Deposit) Regulations, 2000.

NRO Account Non-Resident Ordinary Rupee Account. NSDL The National Securities Depository Limited. NSE National Stock Exchange of India Limited. Ongoing Offer Offer of Units when it becomes open ended after the closure of the NFO Period.

Overseas Corporate Bodies / OCBs

Firms and societies which are held directly or indirectly but ultimately to the extent of at least 60% by NRIs and trusts in which at least 60% of the beneficial interest is similarly held irrevocably by such persons without the prior approval of the RBI.

Ongoing Offer Period The period during which the Ongoing Offer for subscription to the Units is made. PAN Permanent Account Number. PEKRN PAN Exempt KYC Reference Number

Pay Order An alternate to demand draft instrument issued by banks for same city, same clearing zone settlement

Person of Indian Origin/ PIO

A citizen of any country other than Bangladesh or Pakistan, if (a) he at any time held an Indian passport; or(b) he, or either of his parents or any of his grandparents, was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or (c) the person is a spouse of an Indian citizen or a person referred to in sub-clause (a) or (b).

PFRDA Pension Fund Regulatory and Development Authority POA Power of Attorney. Permanent Retirement Account Number Card / PRAN Card

A card issued to NPS subscribers by CRA.

Politically Exposed Politically Exposed Persons or PEPs are persons who are or have been entrusted with

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Persons / PEPs prominent public functions in a foreign country, e.g., Heads of States or of Governments, senior politicians, senior government/ judicial / military officers, senior executives of state-owned corporations, important political party officials, etc. In terms of SEBI Master Circular on Anti Money Laundering (AML and Combating Financing of Terrorism (CFT)- Obligations of Intermediaries under the Prevention of Money Laundering Act, 2002 and Rules Framed there-under (Consolidated upto December 31, 2010), there are additional KYC norms specified for a PEP. It has also been specified that these additional norms shall also be applicable to the accounts of the family members or close relatives of PEPs.

Purchase Subscription to / Purchase of Units by an investor of the Scheme.

Purchase Price The price (being the Applicable NAV) at which the Units can be purchased and calculated in the manner provided in this SID

QFI

A person who is a resident in a country that is a member of Financial Action Task Force (“FATF”) or a member of a group which is a member of FATF; and resident in a country that is a signatory to the International Organization of Securities Commissions (IOSCO) Multilateral Memorandum of Understanding (Appendix A signatories) or resident in a country that is a signatory to a bilateral Memorandum of Understanding with SEBI: Provided that such person is not resident in India, Provided further that such person is not registered with SEBI as Foreign Institutional Investor or Sub-account.

RBI Reserve Bank of India. Rs. / Re. Indian Rupee(s). Redemption Repurchase of Units by the Mutual Fund from a Unit Holder.

Redemption Price The price (being the Applicable NAV minus Exit Load) at which the Units can be redeemed and calculated in the manner provided in this SID.

Registrar and Transfer Agent

K-Fintech Private Limited (“Karvy”), appointed as the Registrar and Transfer Agent for the Scheme, or any other registrar that may be appointed by the AMC

Regulatory Agencies SEBI and any other government or regulatory bodies to which the Trustee, the Mutual Fund and / or the AMC (as the case may be) are subject.

Related Person(s) A person investing on behalf of a minor in consideration of natural love and affection or as a gift.

RTGS Real Time Gross Settlement.

Scheduled Bank

Banks which have been included in the Second Schedule of RBI Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act.

Scheme ITI Arbitrage Fund

Scheme Information Document / SID

This document issued by ITI Mutual Fund, for inviting subscription to Units as amended from time to time. Any modifications to the SID will be made by way of an addendum which will be attached to the SID. On issuance of the addendum, the SID will be deemed to be updated by the addendum.

Scheme Plans The Scheme offers a choice of two plans: Direct Plan; and Regular Plan SEBI Act The Securities and Exchange Board of India Act, 1992, as amended from time to time.

SEBI Regulations Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended from time to time, including by way of circulars / notifications issued by SEBI.

Securities

As defined under Section 2(h) of the Securities Contracts (Regulation) Act, 1956 of India and includes shares, stocks, bonds, debentures, warrants, instruments, obligations, money market instruments, debt instruments or any financial or capital market instrument of whatsoever nature made or issued by any statutory authority or body corporate, incorporated or registered by or under any law; or any other securities, assets or such other investments as may be permissible from time to time under the SEBI Regulations.

Securities and Exchange Board of India / SEBI

The Securities and Exchange Board of India established under the Securities and Exchange Board of India Act, 1992.

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Service Request Form Transaction form format to facilitate and capture various service requests by investor.

Segregated Portfolio Segregated Portfolio means a portfolio, comprising of debt or money market instrument affected by a credit event that has been segregated in a mutual fund scheme.

Sponsor The Investment Trust of India Limited and Fortune Credit Capital Limited.

Statement of Additional Information / SAI

The Statement of Additional Information contains details of the Mutual Fund, its constitution, and certain tax, legal and general information. It is incorporated by reference (and is legally a part of this SID).

Stock Exchange(s)

Exchanges where securities are traded. BSE and NSE are two primary stock exchanges in India apart from various regional stock exchanges. Stock exchanges are governed under respective SEBI regulations.

Subscription Purchase of Units (or a fraction thereof) by an investor of the Scheme.

Switch-in Transaction request for movement of units from one scheme to another scheme. The units are switched into the receiving / new scheme.

Switch-out Transaction request for movement of units from one scheme to another scheme. The units are switched out from the existing scheme.

Systematic Investment Plan (SIP)

A plan enabling investors to invest in the Scheme on a daily / weekly / fortnightly / monthly / quarterly basis by submitting NACH forms / payment instructions.

Systematic Transfer Plan(STP)

A plan enabling Unit Holders to transfer fixed amounts from their Unit accounts in the Scheme to other schemes launched by the Mutual Fund on a daily / weekly / fortnightly / monthly / quarterly basis by giving a single instruction.

Systematic Withdrawal Plan (SWP)

A plan enabling Unit Holders to withdraw amounts from the Scheme on a daily / weekly / fortnightly / monthly / quarterly basis by giving a single instruction

Total Portfolio Total Portfolio means the scheme portfolio including the securities affected by the credit event

Third Party Payment The payment made through an instrument issued from a bank account other than that of the first named applicant / investor mentioned in the Application Form

Transaction Slip

A form to be used by Unit Holders seeking additional Purchase or Redemption of Units, change in bank account details, Switch-in or Switch-out and such other facilities offered by the AMC and mentioned on that form.

Trustee ITI Mutual Fund Trustee Private Limited, a company set up under the Companies Act 1956, to act as the trustee to the Mutual Fund.

Trust Deed The Trust Deed dated April 06, 2017 made by and between the Sponsor and the Trustee, establishing the ITI Mutual Fund, as amended from time to time.

Unit

The interest of an investor in the Scheme consisting of each Unit representing one undivided share in the assets of the Scheme; and includes any fraction of a Unit which shall represent the corresponding fraction of one undivided share in the assets of the scheme.

Unit Capital The aggregate of the face value of the Units.

Unit Holder Any registered holder for the time being, of a Unit offered under this SID including persons jointly registered.

US United States of America. USD United States Dollar.

wakf Wakfs or wakf boards are charitable trusts established underthe provisions of the Wakf Act, 1995

Valuation Day Business Day. Words and expressions used in this SID and not defined has the same meaning as in the Trust Deed or the SEBI Regulations or, in the appropriate context, in the SEBI Act. • Words in singular include the plural and vice-versa. • Pronouns having a masculine or feminine gender shall be deemed to include the other. • A “Crore” means “ten million” and a “Lakh” means a “hundred thousand”. • References to times of day (i.e. a.m. or p.m.) are to India Standard Time and references to a day are to a calendar day

including non- Business Day.

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E. DUE DILIGENCE BY THE ASSET MANAGEMENT COMPANY

It is confirmed that:

(i) The Scheme Information Document forwarded to SEBI is in accordance with the SEBI (Mutual Funds) Regulations, 1996 and the guidelines and directives issued by SEBI from time to time.

(ii) All legal requirements connected with the launching of the Scheme as also the guidelines, instructions, etc., issued by the Government and any other competent authority in this behalf, have been duly complied with.

(iii) The disclosures made in the Scheme Information Document are true, fair and adequate to enable the investors to make a well informed decision regarding investment in the proposed scheme.

(iv) The intermediaries named in the Scheme Information Document and Statement of Additional Information are registered with SEBI and their registration is valid, as on date.

Place: Mumbai Signed: Date: June 29, 2020 Name: C. Balasubramanian

Designation: Head – Compliance, Secretarial &Legal

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II. INFORMATION ABOUT THE SCHEME

A. NAME &TYPE OF THE SCHEME

ITI Arbitrage Fund is an open ended scheme investing in arbitrage opportunities.

B. WHAT IS THE INVESTMENT OBJECTIVE OF THE SCHEME?

The investment objective of the Scheme is to generate income by predominantly investing in arbitrage opportunities in the cash and derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments. However, there is no assurance that the investment objective of the scheme will be realized.

C. HOW WILL THE SCHEME ALLOCATE ITS ASSETS?

The Scheme will aim to have a fully hedged portfolio to meet its Investment Objective.

Under normal circumstances, the asset allocation pattern will be as follows:

Instruments Indicative allocations (% of net

assets) Risk Profile

Maximum Minimum High/Medium/Low Equity & Equity related instruments including derivatives 100% 65% Medium to High

Debt instruments (including floating rate debt instruments and securitized debt)* with maturity up to 91 days only

35% 0% Low

Under defensive circumstances, the asset allocation would be as follows:

Instruments Indicative allocations (% of net assets)

Risk Profile

Maximum Minimum High/Medium/Low Equity & Equity related instruments including derivatives 35% 0% Medium to High

Debt instruments (including floating rate debt instruments and securitized debt)* with maturity up to 91 days only

100% 65% Low

*securitized debt cumulative allocation not to exceed 30% of the net assets of the Scheme.

The Scheme will not invest in Foreign Securities and ADRs/GDRs issued by Indian or foreign companies. The Scheme will not invest in Stock Lending and Short Selling.

Note:

Defensive circumstances are when the arbitrage opportunities in the market are negligible or returns are lower than alternative investment opportunities as per the allocation pattern. The allocation under defensive circumstances will be made keeping in view the interest of the Unit holders. Such position will be closely monitored by the Fund Managers and necessary rebalancing will be done at suitable opportunity but not later than 30 days.

The margin money requirement for the purposes of derivative exposure will be held in the form of Term Deposits, cash or cash equivalents or as may be allowed under the Regulations.

Money Market Instruments include CPs, commercial bills, Corporate Debt, T-Bills, and Government securities having an unexpired maturity upto one year, CDs, usance bills, Tri Party Repos, Repo/ Reverse Repo and any other like instruments having a maturity of 1 year or less, as specified by the RBI from time

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to time. The above percentages are indicative and not absolute.

Further,

The Scheme shall not invest in credit default swaps, repos in corporate bonds and foreign securities. The Scheme shall not engage into securities lending and borrowing.

The Scheme can take derivative exposure upto a limit as stated in the tables above. The total exposure related to options premium paid will not exceed 20% of the net assets of the Scheme.

The Scheme may enter into plain vanilla interest rate swaps for hedging purposes. Exposure to a single counterparty in such transactions will not exceed 10% of the net assets of the Scheme.

The cumulative gross exposure through equity, debt and derivative positions will not exceed 100% of the net assets of the Scheme. However, cash or cash equivalents with residual maturity of less than 91 days may be treated as not creating any exposure.

The Scheme may undertake repo/reverse repo transactions in Corporate Debt Securities as per latest SEBI guidelines.

From time to time, the Scheme may hold cash and/or invest in the Tri Party Repo or repo to meet the liquidity requirements.

The Scheme may also invest in other schemes managed by the AMC or in the schemes of any other Mutual Fund within the regulatory limits, provided it is in conformity with the investment objectives of the Scheme.

Pending deployment of funds of the Scheme in securities in terms of the investment objective of the Scheme, the AMC may park the funds of the Scheme in short term deposits of scheduled commercial banks, subject to the guidelines issued by SEBI vide its circular dated April 16, 2007, as amended from time to time.

While it is the intention of the Scheme to maintain the maximum/minimum exposure provided in the tables above, there may be instances when these percentages may be exceeded on short term defensive considerations. Typically, this may occur while the Scheme is new and the corpus is small thereby causing diversification issues or there exist no suitable equity and equity related opportunities or due to unusual / unforeseen conditions, such rebalancing is not in the interest of Unit holders. Unusual conditions include, but are not limited to, extreme volatility of the stock market, fixed income and money markets, natural calamities, communication breakdowns, internal system breakdowns, strikes, bandhs, riots or other situations.

Change in Asset Allocation:

Subject to the Regulations, the asset allocation pattern indicated above may change from time to time, keeping in view market conditions, market opportunities, applicable regulations and political and economic factors. It must be clearly understood that the percentages stated above can vary substantially depending upon the perception of the Fund Manager, the intention being at all times to seek to protect the interests of the Unit holders. Such changes in the investment pattern will be for short term and defensive considerations. The Scheme reserves the right to invest its entire allocation in debt and money market securities in any one of the fixed income security classes.

In the event of the asset allocation falling outside the limits specified in the asset allocation table, the Scheme will rebalance the portfolio within 30 days. However, if market conditions do not permit the Fund Manager to rebalance the portfolio of the Scheme within the stipulated period of 30 days, justification for the same shall be provided to the Investment Committee and the reason for the same shall be recorded in writing. The Investment Committee shall then decide on the course of action.

Subject to the above, any change in the asset allocation affecting the investment profile of the Schemes shall be effected only in accordance with the provisions of sub regulation (15A) of Regulation 18 of the Regulations, as detailed later in this document.

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Comparison with existing open ended equity schemes of ITI Mutual Fund:

Scheme Name

Type Investment Objective Differentiation AUM (Rs in crore) as on May 31, 2020

No. of folios as on May 31, 2020

ITI Multi Cap Fund

An Open Ended Equity Scheme investing across Large Cap, Mid Cap, Small Cap Stocks

The investment objective of the Scheme is to generate long-term capital appreciation from a diversified portfolio that predominantly invests in equity and equity-related securities of companies across various market capitalisation. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.

The scheme will invest across large cap, mid cap and small cap stocks. Asset Allocation under normal circumstances: Equity and Equity related securities across market cap – 65% - 100% Debt & Money Market Instruments – 0% - 35%

113.55 11,411

ITI Long Term Equity Fund

An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit

To provide long-term capital appreciation by investing predominantly in equity and equity related securities. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The scheme does not assure or guarantee any returns.

This Scheme seeks to generate income and long term capital appreciation by investing substantially in a portfolio consisting of equity and equity related securities.

Asset Allocation under normal circumstances: Equity and Equity related securities – 80% - 100%Short Term Debt &Money Market Instruments – 0% - 20%

26.82 6,999

ITI Small Cap Fund

An open ended equity scheme predominantly investing in small cap stocks

The investment objective of the Scheme is to generate capital appreciation by predominantly investing in equity and equity related securities of small cap companies. However, there can be no assurance that the investment objective of the scheme would be achieved.

The Scheme shall follow a predominantly small cap strategy with a minimum exposure of 65% to Small-Cap stocks. Asset Allocation under normal circumstances – Equity and Equity related instruments of small cap companies - 65% - 100%; Equity and Equity related instruments of other than small cap companies: 0% - 35%;debt & money

169.84 12,619

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Scheme Name

Type Investment Objective Differentiation AUM (Rs in crore) as on May 31, 2020

No. of folios as on May 31, 2020

market instruments: 0% - 35%; Units issued by REITs and InvITs: 0% - 10%.

ITI Balanced Advantage Fund

An open ended dynamic asset allocation fund

The investment objective of the Scheme is to seek capital appreciation by investing in equity and equity related securities and fixed income instruments. The allocation between equity instruments and fixed income will be managed dynamically so as to provide investors with long term capital appreciation. However, there can be no assurance that the investment objective of the scheme will be realized.

The fund is designed to dynamically change its allocation across equity, cash, debt and derivatives based on the prevailing market conditions. Asset Allocation under normal circumstances: Equity and Equity related securities including derivatives –65% - 100%; Money market instruments (including cash and reverse repo) and debt instruments with residual maturity up to 3years – 0% - 35%; Units issued by REITs and InvITs - 0% - 10%.

204.43 7098

D. WHERE WILL THE SCHEME INVEST?

Subject to the Regulations, the corpus of the Scheme will mainly be invested in any (but not exclusively) of the following securities: 1. Investment in Equity securities: The Scheme will invest in Equity and Equity related instruments including equity derivatives. Derivatives: The Scheme may invest in Derivative Instruments to the extent permitted under SEBI Circulars DNPD/Cir-29/2005 dated September 14, 2005, DNPD/Cir-29/2005 dated January 20, 2006, SEBI/DNPD/ Cir-31/2006 dated September 22, 2006 and CIR/IMD/ DF/11/2010 dated August 18, 2010 on ‘Trading by Mutual Funds on Exchange Traded Derivatives’ as amended from time to time. Derivative products are specialized instruments that require investment techniques and risk analysis different from those associated with stocks and bonds. The use of derivatives requires an understanding not only of the underlying instrument but also of the derivative instruments itself. The Scheme may invest in the following Equity Derivative Instruments like:

i. Futures: A futures contract is an agreement between the buyer and the seller for the purchase and sale of a particular asset at a specific price on a specific future date. The price at which the underlying asset would change hands in the future is agreed upon at the time of entering into the contract. The actual purchase or sale of the underlying asset involving payment of cash and delivery of the instrument does not take place until the contracted date of delivery. A futures contract involves an obligation on both the parties to fulfill the terms of the contract. Currently, futures contracts have a maximum expiration cycle of 3-months. A futures contract on the stock market index gives its owner the right and obligation to buy or sell the portfolio of

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stocks characterized by the index. Stock index futures are cash settled; there is no delivery of the underlying stocks.

ii. Options: An option is a contract which provides the buyer of the option (also called the holder) the right, without the obligation, to buy or sell a specified asset at an agreed price on or upto a particular date. For acquiring this right the buyer has to pay a premium to the seller. The seller on the other hand has the obligation to buy or sell that specified asset at the agreed price. The premium is determined considering number of factors such as the underlying asset’s market price, the number of days to expiration, strike price of the option, the volatility of the underlying asset and the risk less rate of return. The strike price, the expiration date and the market lots are specified by the exchanges. An option contract may be of two kinds, viz., a call option or a put option. An option that provides the buyer the right to buy is a call option. The buyer of the call option (known as the holder of the option) can call upon the seller of the option (known as writer of the option) and buy from him the underlying asset at the agreed price at any time on or before the expiry date of the option. The seller of the option has to fulfill the obligation on exercise of the option. The right to sell is called a put option. Here, the buyer of the option can exercise his right to sell the underlying asset to the seller of the option at the agreed price. Options are of two types: European and American. In a European option, the holder of the option can only exercise his right on the date of expiration. In an American option, he can exercise this right anytime between the purchase date and the expiration date.

iii. Other derivative instruments: The Scheme may also invest in debt derivative instruments like Interest Rate Swaps, Forward Rate Agreements or such other debt derivative instruments as may be introduced from time to time. An Interest Rate Swap (IRS) is a financial contract between two parties exchanging a stream of interest payments for a notional principal amount on multiple occasions during a specified period. Typically, one party receives a pre-determined fixed rate of interest while the other party, receives a floating rate, which is linked to a mutually agreed benchmark with provision for mutually agreed periodic resets. A Forward Rate Agreement (FRA) is basically a forward starting IRS. It is an agreement between two parties to pay or receive the difference between an agreed fixed rate (the FRA rate) and the interest rate (reference rate) prevailing on a stipulated future date, based on a notional principal amount for an agreed period. The only cash flow is the difference between the FRA rate and the reference rate. As is the case with IRS, the notional amounts are not exchanged in FRA. To hedge & balance the portfolio, derivative instruments like Interest Rate Swaps & Forward Rate Agreements may be used to create synthetic fixed rate bonds/ floating rate bonds. We wish to submit that, creation of synthetic fixed rate bonds/floating rate bonds is a hedging and portfolio rebalancing technique. An example is stated below to explain the said proposition.

Swaps can be used to create synthetic fixed rate instruments. Let us take an example of a 1 Year Floating Rate Bond with a spread of 50 bps (basis points) over a benchmark say, Overnight MIBOR. Ordinarily, this fetches the investor a yield of the benchmark (which is floating) plus 50 bps on an annualized basis. However, by receiving 1 yr fixed rate on the swap side, what happens is that the bond gets converted into a fixed rate bond. Let us assume that the 1 year swap on the same benchmark is received for the same principal amount at the rate of 8.00%. Step A: Investor receives Overnight MIBOR + 50 bps on the Floating Rate Bond Step B: Investor enters into a 1 year OIS transaction – Investor receives fixed rate of 8% & Investor pays floating rate i.e., Overnight MIBOR, Net impact for the investor: (MIBOR + 50 bps) + 8% - MIBOR = 8.00% + 50 bps = 8.50% (Fixed) Thus through the swap, the floating rate bond gets converted ‘synthetically’ into a fixed rate bond.

2. Investment in Debt securities: • Commercial paper (CP) is an unsecured negotiable money market instrument issued in the form of a promissory note. CPs is issued by corporates as an alternative source of working capital finance. They are issued at a discount to face value, as may be determined mutually by the issuer & investor. CP is traded in secondary market and can be freely bought and sold before maturity.

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• Certificates of Deposit (CD) is a negotiable money market instrument issued by scheduled commercial banks and select all-India Financial Institutions (FIs) that have been permitted by RBI to raise short-term resources. The maturity period of CDs issued by the banks is between 7 days and one year. FIs can issue CDs for a period not less than 1 year and not exceeding 3 years from the date of issue. CDs also are issued at a discount to face value and can be traded in secondary market akin to CPs. • Government securities: The Scheme intends to invest its assets in securities of Government of India and /or State Government to the extent of SEBI prescribed limits, if any. Such securities may be: i. Supported by the ability to borrow from the Treasury or ii. Supported by Sovereign guarantee or the State Government or iii. Supported by Government of India / State Government in some other way. The above will depend upon the

nature of securities invested. Central Government Securities are a sovereign debt obligation of the Government of India with zero- risk of default and are issued on its behalf by the RBI. They form a part of the Government’s annual borrowing program, and are used to fund the fiscal deficit along with other short and long-term fund requirements. Central Government Securities are normally fixed interest securities where the interest is paid semi- annually. Different types of Central Government Securities are the fixed interest securities, fixed interest security with put/call option, fixed interest security where the subscription amount is paid in installments, fixed interest security where the maturity amount is received in installments, floating rate bond, capital-indexed bond and zero-coupon bonds. State government securities are issued by the respective State governments in co-ordination with the RBI. State Government Securities are fixed interest securities where the interest is paid semi- annually. • Treasury Bills (T-Bills) are issued by the Government of India to meet their short-term borrowing requirement. Presently, T-Bills are issued for original maturities of 91 days, 182 days and 364 days. T-Bills are issued at a discount to their face value and redeemed at par. • Short Term Deposits are deposits with Banks for a fixed term at a rate which is determined by various factors such as the term, the amount etc. Pending deployment as per investment objective, the corpus of the Scheme may be invested in short- term deposits of Scheduled Commercial Banks as provided under the Regulations. • Tri party Repo is a money market instrument that enables entities, to borrow and lend against sovereign collateral security. It is in electronic form. The maturity ranges from 1 day to 90 days and can also be made available up to 1 year. Central Government Securities including T-bills are eligible securities that can be used as collateral for borrowing through Tri Party Repo. • Repo (Repurchase agreement): A Repo or Reverse Repo is a transaction in which two parties agree to sell and repurchase the same security. Under such an agreement the seller sells specified securities with an agreement to repurchase the same at a mutually decided future date and price. Similarly, the buyer purchases the securities with an agreement to resell the same to the seller on an agreed date at a predetermined price. The transaction results in Tri-party repo. Such a transaction is called a Repo when viewed from the perspective of the seller of the securities and borrower of funds and Reverse Repo when viewed from the perspective of the buyer of the securities and lender of funds. The eligible securities for a repo/reverse repo transaction in the Indian financial markets at present are Government Securities, State Government Securities and Treasury Bills. The Scheme may enter into Reverse Repo, hedging or such other transactions as may be allowed to Mutual Fund from time to time.

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• Non Convertible Debentures as well as Bonds are securities issued by Public Sector Enterprises, Public Sector Banks, All India Financial Institutions, Private Sector Companies etc for their normal business activities, which may be secured or unsecured against assets of the company. This is one of the sources of financing for corporates which may be in the nature of short term or long term depending on the requirement of the entity. They are priced at a spread over the corresponding government security depending on the level of perceived risk. Different types of securities are fixed interest securities with or without put/call option, fixed interest security where the maturity amount is received in installments, floating rate bonds, zero- coupon bonds (bonds with no intervening interest cash flows) etc. Frequency of interest payments could be annual/ semi-annual/quarterly/monthly or zero coupon bonds etc depending on each issue. • Floating rate debt instruments are debt instruments issued by Central / State governments, Corporates, PSUs, etc. with interest rates that are reset periodically. The periodicity of interest reset could be daily, monthly, quarterly, half yearly, and annually or any other periodicity that may be mutually agreed between the issuer and the Fund. For details on definition & Risk associated with investment in the above security, please refer SAI. 3. Investments in the Schemes of Mutual Fund The Scheme may invest in schemes managed by the AMC or in the schemes of any other Mutual Fund, provided it is in conformity with the investment objectives of the Scheme and in terms of the prevailing the SEBI Regulations. As per the SEBI Regulations, no Investment Management fees will be charged for such investments and the aggregate inter scheme investment made by all schemes in the schemes of the Mutual Fund or in the schemes under the management of any other asset management company shall not exceed 5% of the Net Asset Value of the Mutual Fund. 4. Any other like instruments as may be permitted by RBI/ SEBI/ such other Regulatory Authority from time to time. The above-mentioned securities could be listed, unlisted, secured, unsecured, rated or unrated and may be acquired through Primary, secondary market offerings, private placements, rights offer etc. Further, investments in debentures, bonds and other fixed income securities will usually be in instruments, which have been assigned investment grade ratings by an approved rating agency. In cases where the debt instrument is unrated, specific approval from the Board of the Asset Management Company and the Board of Trustees shall be obtained. However, the same shall be subject to limitations as contained in clause 1 and 1A, of Schedule VII to SEBI (Mutual Funds) Regulations, 1996. Securitised Debt Obligations - Securitization is a structured finance process which involves pooling and repackaging of cash-flow producing financial assets into securities that are then sold to investors. They are termed as Asset Backed Securities (ABS) or Mortgage Backed Securities (MBS). ABS are backed by other assets such as credit card, automobile or consumer loan receivables, retail installment loans or participations in pools of leases. MBS is an asset backed security whose cash flows are backed by the principal and interest payments of a set of mortgage loans. Such Mortgage could be either residential or commercial properties. Pass through, Pay through or other Participation Certificates, representing interest in a pool assets including receivables. It represents beneficial interest in an underlying pool of cash flows. These cash flows represent dues against single or multiple loans originated by the sellers of these loans. Cash Management Bills Government of India, in consultation with the Reserve Bank of India, issue a new short-term instrument, known as Cash Management Bills (CMBs), to meet the temporary cash requirement of the Government. The CMBs have the generic character of T-bills but are issued for maturities less than 91 days. Like T-bills, they are also issued at a discount and redeemed at face value at maturity.

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The following are certain additional disclosures w.r.t. investment in securitized debt: (i) How the risk profile of securitized debt fits into the risk appetite of the scheme Securitized debt is a form of conversion of normally non- tradable loans to transferable securities. This is done by assigning the loans to a special purpose vehicle (a trust), which in turn issues Pass-Through-Certificates (PTCs). These PTCs are transferable securities with fixed income characteristics. The risk of investing in securitized debt is similar to investing in debt securities. However it differs in two respects: a) Typically the liquidity of securitized debt is less than similar debt securities. b) For certain types of securitized debt (backed by mortgages, personal loans, credit card debt, etc.), there is

an additional pre-payment risk. Pre-payment risk refers to the possibility that loans are repaid before they are due, which may reduce returns if the re-investment rates are lower than initially envisaged. Because of these additional risks, securitized debt typically offers higher yields than debt securities of similar credit rating and maturity. If the fund manager judges that the additional risks are suitably compensated by the higher returns, he may invest in securitized debt up to the limits specified in the asset allocation table above.

(ii) policy relating to originators based on nature of originator, track record, NPAs, losses in earlier securitized debt, etc The originator is the person who has initially given the loan. The originator is also usually responsible for servicing the loan (i.e. collecting the interest and principal payments). An analysis of the originator is especially important in case of retail loans as this affects the credit quality and servicing of the PTC. The key risk is that of the underlying assets and not of the originator. For example, losses or performance of earlier issuances does not indicate quality of current series. However such past performance may be used as a guide to evaluate the loan standards, servicing capability and performance of the originator. Originators may be: Banks, Non Banking Finance Companies, Housing Finance Companies, etc. The fund manager / credit analyst evaluates originators based on the following parameters • Track record. • Willingness to pay, through credit enhancement facilities etc. • Ability to pay. • Business risk assessment, wherein following factors are considered:

- Outlook for the economy (domestic and global). - Outlook for the industry. - Company specific factors.

In addition a detailed review and assessment of rating rationale is done including interactions with the originator as well as the credit rating agency. The following additional evaluation parameters are used as applicable for the originator / underlying issuer for pool loan and single loan securitization transactions: • Transaction structure including Par versus premium and credit enhancement • Reputation of Originator in the market • Proportion of overdue assets of the pool or the underlying loan, as the case may be • Track record of servicing of the pool or the loan, as the case may be • Any disputes or litigations in the originated pools • Credit quality and rating • Loan to Value ratio • Liquidity facility (iii) Risk mitigation strategies for investments with each kind of originator Risk would be mitigated to a large extent by the critical evaluation parameters mentioned above. Further, Risk mitigation strategies typically include additional credit enhancement, overcollateralization, interest subvention, presence of subordinate

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tranches, analysing ageing of the pools i.e. how long the loan has been with Originator before securitization etc. Some of the risks with securitized debt investments and the corresponding risk mitigating strategies are listed below: Risk mitigation strategy Limited Recourse, Delinquency and Credit Risk In addition to careful scrutiny of credit profile of borrower/ pool additional security in the form of adequate cash collaterals and other securities may be obtained to ensure that they all qualify for similar rating. Bankruptcy of the Originator or Seller Normally, specific care is taken in structuring the securitization transaction so as to minimize the risk of the sale from the Originator not being construed as a ‘true sale’. It is also in the interest of the originator to demonstrate the transaction as a true sale to get the necessary revenue recognition and tax benefits. Liquidity and price risk Securitized debt instruments are relatively illiquid in the secondary market and hence they are generally held to maturity. The liquidity risk and HTM (Held To Maturity) nature is taken into consideration at the time of analyzing the appropriateness of the securitization. Pre-payment Risk A certain amount of prepayments is assumed in the calculations at the time of purchase based on historical trends and estimates. Further, a stress case estimate is calculated and additional margins are built in. (iv) The level of diversification with respect to the underlying assets, and risk mitigation measures for less diversified investments. In case of securitization involving single loans or a small pool of loans, the credit risk of the borrower is analyzed. In case of diversified pools of loans, the overall characteristic of the loans is analyzed to determine the credit risk. The credit analyst shall look at ageing (i.e. how long the loan has been with the originator before securitization) as one way of judging the performance potential of the PTC. Additional risk mitigants may include interest subvention, over collateralization, presence of an equity / subordinate tranche and / or guarantees. The credit analyst shall also use analyses by credit rating agencies on the risk profile of the securitized debt. Framework that will be applied while evaluating investment decision relating to a pool securitization transaction:

Characteristics /Type of pool

Mortgage Loan

Commercial Vehicle and

Construction Equipment

Cars Two Wheelers

Micro Finance

pools

personal Loans

Single Sell

Downs

Others

Approximate Average Maturity (In months)

Upto 10 years

Upto 5 years

Upto 5 years

Upto 3 years

Upto 80 weeks

Upto 3 years

Refer Note 1

Refer Note 2

Collateral Margin (including Cash, guarantees, excess Interest spread, subordinate tranche)

>5% >5% >4% >4% >4% >4% “ “

Average Loan to Value Ratio

<90% <90% <90% <90% Unsecured Unsecured “ “

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Characteristics /Type of pool

Mortgage Loan

Commercial Vehicle and

Construction Equipment

Cars Two Wheelers

Micro Finance

pools

personal Loans

Single Sell

Downs

Others

Average seasoning of the Pool

>3 months >3 months

>3 months

>3 months >3 months >3 months “ “

Maximum Single exposure range

<5% <7% Retail Retail Retail Retail “ “

Average Single exposure range %

<5% <5% Retail Retail Retail Retail “ “

Note 1: In case of securitization involving single loans or a small pool of loans, the credit risk of the borrower is analyzed. The investment limits applicable to the underlying borrower are applied to the single loan sell-down. Note 2: Other investments will be decided on a case-to-case basis. The credit analyst may consider the following risk mitigating measures in his analysis of the securitized debt: • Size of the loan – The size of the loan is generally analysed on a sample basis and an analysis of the static pool of the originator is undertaken to ensure that the same matched with static pool characteristics. It also indicates whether there is high reliance on very small ticket size borrower which could result in delayed and expensive recoveries. • Average original maturity of the pool – the analysis of the average maturity of the pool is undertaken to evaluate whether the tenor of the loans are generally in line with the average loan in the respective industry and repayment capacity of the borrower. • Loan to value ratio, average seasoning of the pool of underlying assets – these parameters will be evaluated based on the asset class as mentioned in the table above. • Default rate distribution – the credit team generally ensures that all the contracts in the pool are current to ensure zero default rate distribution. • Geographical distribution – the analysis of geographical distribution of the pool is undertaken to ensure prevention of concentration risk. • Credit enhancement facility – credit enhancement facilities in the form of cash collateral, such as fixed deposits, bank guarantee etc. could be obtained as a risk mitigation measure. • Liquid facility – these parameters will be evaluated based on asset class as mentioned in the table above. • Structure of the pool of the underlying assets – The structure of the pool of the underlying asset class or combination of various asset classes as mentioned in the table above. We could add new asset class depending upon the securitization structure and changes in market acceptability of asset classes. (v) Minimum retention period of the debt by originator prior to securitization Issuance of securitized debt is governed by the Reserve Bank of India. RBI norms cover the “true sale” criteria including credit enhancement and liquidity enhancements. In addition, RBI has proposed minimum holding period before they can be securitized. The minimum holding period depends on the tenor of the securitization transaction. The Fund will invest in securitized debt that are compliant with the laws and regulations. (vi) Minimum retention percentage by originator of debts to be securitized RBI has prescribed the minimum retention percentage as 5% or 10% of the book value of the loans being securitised depending on the original maturity of the loans and the features of the securitisation transaction.

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(vii) The mechanism to tackle conflict of interest when the mutual fund invests in securitized debt of an originator and the originator in turn makes investments in that particular scheme of the fund The key risk is securitized debt relates to the underlying borrowers and not the originator. In a securitization transaction, the originator is the seller of the debt(s) and the fund is the buyer. However, the originator is also usually responsible for servicing the loan (i.e. collecting the interest and principal payments). As the originators may also invest in the scheme, the fund manager shall ensure that the investment decision is based on parameters as set by the Investment Committee of the asset management company and the committee shall review the same at regular interval. (viii) The resources and mechanism of individual risk assessment with the AMC for monitoring investment in securitized debt The fund management team has the required experience to analyse and monitor investments in securitised debts. On an on-going basis the rating movement of the securitised debts will be monitored. Credit research agencies also provide analysis of individual instruments and pools. The periodic reports received by the AMC on pool performance will be scanned to check for any change in asset quality and related impact on debt servicing and any impact that it can have on the credit ratings. Note: The information contained herein is based on current market conditions and may change from time to time based on changes in such conditions, regulatory changes and other relevant factors. Accordingly, our investment strategy, risk mitigation measures and other information contained herein may change in response to the same.

E. WHAT ARE THE INVESTMENT STRATEGIES?

The Scheme will invest in arbitrage opportunities between spot and futures prices of exchange traded equities and the arbitrage opportunities available within the derivative segment. If suitable arbitrage opportunities are not available in the opinion of the Fund Manager, the Scheme may invest in short term debt and money market securities. The Fund Manager will evaluate the difference between the price of a stock in the futures market and in the spot market. If the price of a stock in the futures market is higher than in the spot market, after adjusting for costs and taxes the scheme shall buy the stock in the spot market and sell the same stock in equal quantity in the futures market, simultaneously. The Scheme will endeavor to build similar market neutral positions that offer an arbitrage potential for e.g. buying the basket of index constituents in the cash or futures segment and selling the index futures, etc. The Scheme would also look to avail of opportunities between one futures contract and another. The margin money requirement for the purposes of derivative exposure will be held in the form of Term Deposits, cash or cash equivalents. Derivative & Arbitrage Strategies: Derivatives are financial contracts of pre-determined fixed duration, whose values are derived from the value of an underlying primary financial instrument, index, such as: interest rates, exchange rates and equities. The Scheme will invest in arbitrage opportunities between spot and futures prices of exchange traded equities. The Scheme may build similar hedge positions that offer an arbitrage potential for example buying the basket of index constituents in the cash or futures segment and selling the index futures, and selling the corresponding stock future, etc. The Scheme will also invest in low risk derivatives strategies. These strategies will involve any combination of cash, futures and options. The Scheme will invest in opportunities arising out of corporate actions announced in stocks that offer superior risk adjusted returns and IPOs.

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1. Cash Future Arbitrage: This strategy is employed when the price of the future is trading at a premium to the price of its underlying in spot market. The Scheme shall buy the stock in spot market and endeavor to simultaneously sell the future at a premium on a quantity neutral basis. Buying the stock in spot market and selling the futures results into a hedge where the Scheme has locked in a spread and is not affected by the price movement of cash market and futures market. The arbitrage position can be continued till expiry of the future contracts. The future contracts are settled based on the last half an hour’s weighted average trade of the spot market. Thus there is a convergence between the spot price and the futures market on expiry. This convergence helps the Scheme to generate the arbitrage return locked in earlier. On or before the date of expiry, if the price differential between the spot and futures position of the subsequent month maturity still remains attractive, the scheme may rollover the futures position and hold onto the position in the spot market. In case such an opportunity is not available, the scheme would liquidate the spot position and settle the futures position simultaneously. Rolling over of the futures transaction means unwinding the short position in the futures of the current month and simultaneously shorting futures of the subsequent month maturity, and holding onto the spot position. Illustrations Buy 100 shares of Company A at Rs 100 and sell the same quantity of stock’s future of the Company A at Rs 101. 1. Market goes up and the stock end at Rs 200. At the end of the month (expiry day) the future expires automatically: Settlement price of future = closing spot price = Rs 200 Gain on stock is 100*(200-100) = Rs 10,000 Loss on future is 100*(101-200) = Rs – 9,900 Net gain is 10,000 – 9,900 = Rs 100 2. Market goes down and the stock end at Rs 50. At the end of the month (expiry day) the future expires automatically: Settlement price of future = closing spot price = Rs 50 Loss on stock is 100*(50-100) = Rs – 5,000 Gain on future is 100*(101-50) = Rs 5,100 Net gain is 5,100 – 5,000 = Rs 100 Unwinding the position: Buy 100 shares of Company A at Rs 100 and sell the same quantity of stock’s future of the Company A at Rs 101. The market goes up and at some point of time during the month (before expiry) the stock trades at Rs 120 and the future trades at Rs 119 then we unwind the position: Buy back the future at Rs 119: loss incurred is (101- 119)*100= Rs – 1,800 Sell the stock at Rs 120: gain realized: (120-100)*100 = Rs 2,000 Net gain is 2,000 – 1,800 = Rs 200 Rolling over the futures: We keep the stocks position. Close to expiry, if the stocks price is at Rs 150 then the stock’s future is close to Rs 150 as well. Also if the current month stock future is below the next month stock future, we roll over the future position to the next expiry:

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Stock future next month is at Rs 151 Stock future current month is at Rs 150 Then sell future next month at Rs 151 and buy back actual future at Rs 150 = gain of 100*(151- 150) = Rs 100 and the arbitrage is continuing. 2. Index Arbitrage: The Nifty 50 derives its value from fifty constituent stocks; the constituent stocks (in their respective weights) can be used to create a synthetic index matching the Nifty Index. Also, theoretically, the fair value of a future is equal to the spot price plus the cost of carry. Theoretically, therefore, the pricing of Nifty Index futures should be equal to the pricing of the synthetic index created by futures on the underlying stocks. Due to market imperfections, the index futures may not exactly correspond to the synthetic index futures. The Nifty Index futures normally trades at a discount to the synthetic Index due to large volumes of stock hedging being done using the Nifty Index futures giving rise to arbitrage opportunities. One instance in which an index arbitrage opportunity exists is when Index future is trading at a discount to the index (spot) and the futures of the constituent stocks are trading at a cumulative premium. The fund manager shall endeavour to capture such arbitrage opportunities by taking long positions in the Nifty Index futures and short positions in the synthetic index (constituent stock futures). Based on the opportunity, the reverse position can also be initiated. Index Arbitrage (Spot market): This strategy is very similar to the index arbitrage strategy explained above. This strategy can be executed when the index future is trading at a premium to the underlying index. The Fund Manager will buy the index constituents (ratio of weights in the index) in the spot market and simultaneously sell the index future at a premium. On expiry day, the futures expire at cash. This convergence helps realize the profits locked-in. 3. Portfolio protection/ Hedging: The Scheme may use exchange-traded derivatives to hedge the equity portfolio. Illustrations of hedging using options– Call Option (Buy): The fund buys a call option at the strike price of say Rs.1000 and pays a premium of say Rs. 50, the fund would earn profits if the market price of the stock at the time of expiry of the option is more than 1050 being the total of the strike price and the premium thereon. If on the date of expiry of the option the stock price is below Rs 1000, the fund will not exercise the option while it loses the premium of Rs. 50. Put Option (Buy): The fund buys a Put Option at Rs 1000 by paying a premium of say Rs 50. If the stock price goes down to Rs. 900, the fund would protect its downside and would only have to bear the premium of Rs 50 instead of a loss of Rs 100 whereas if the stock price moves up to say Rs. 1100 the fund may let the Option expire and forego the premium thereby capturing Rs. 100 upside after bearing the premium of Rs. 50. The Scheme may use both index and stock futures and options to hedge the stocks in the portfolio. 4. The Scheme may use derivative instruments like Interest rate swaps like Overnight Indexed Swaps (OIS), Forward rate agreements, or such other derivative instruments as may be introduced from time to time. Derivatives will be used for the purpose of hedging, increasing the returns of the Scheme and portfolio balancing as may be permitted under the Regulations and Guidelines. Investment strategy while using Overnight Indexed Swaps: In a rising interest rate scenario the Scheme may enhance returns for the investor by hedging the risk on its fixed interest paying assets by entering into an OIS contract where the Scheme agrees to pay a fixed interest rate on a specified notional amount, for a predetermined tenor and receives floating interest rate payments on the same notional amount. The fixed returns from the Scheme’s assets and the fixed interest payments to be made by the Scheme on account of the OIS transaction

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offset each other and the Scheme benefits on the floating interest payments that it receives. The Scheme may enter into an opposite position in case of a falling interest rate scenario, i.e., to hedge the floating rate assets in its portfolio the Scheme enters into an OIS transaction wherein it receives a fixed interest rate on a specified notional amount for a specified time period and pays a floating interest rate on the same notional amount. The floating interest payments that the Scheme receives on its floating rate securities and the floating interest payments that the Scheme has to pay on account of the OIS transaction offset each other and the Scheme benefits on the fixed interest payments that it receives in such a scenario. 5. Other Arbitrage Derivative Strategies: The Scheme will also invest in arbitrage opportunities arising out of corporate actions (e.g. – mergers, FPO, delisting, open offers, etc). These are just a few examples of arbitrage opportunities arising out of corporate actions. This is not an exhaustive list as every corporate action could offer a different and unique opportunity. The Scheme may also use derivative instruments as may be introduced from time to time, with the underlying being any of the stocks in a recognized stock exchange. The Scheme may deploy one or more of the above mentioned derivative Strategies to the extend they are in line with the investment objective of the Scheme. Special Situations (Corporate Actions) The Scheme may take advantage of situations that present an investment opportunity to Fund Manager who can judge the implications of that opportunity that can unlock value for investors. Some of these situations are Merger of businesses or companies which may result in synergies in business activities. Demerger may result in separation / spin-off of business operation / activity from some other business operation / activity., Companies may consider a buy-back of their shares from the market due to various reasons (like company has substantial free reserves, management is confident of the future growth potential, meeting with the regulatory norms, etc.) and unlock significant value for shareholders. Companies may consider delisting their companies from the respective stock exchange. It may be at the request of the promoters, acquisitions; BIFR under SICA etc., Company may offer its existing shareholders a right to purchase additional shares at a discount to the prevailing market price. A company may want to infuse capital for future projects, raise its holding as it expects good prospects going forward. A carefully analyzed rights issue can unlock value for shareholders; Open Offer is an event that increases the share holding of the acquirer. An open offer can be voluntary or involuntary. An open offer is an indication that parties are interested in increasing their stake in the company. This can be positive for the company over the long run and gives the investor a signal for good times ahead, Debt restructuring i.e. a company may want to change its capital structure by means of reducing debt. Higher debt can lead to lower profits and cash flows. An attempt by the company to reduce debt or swap the same with other lower costs options can unlock value for shareholders. There could by many other events that may result in share price appreciation. Such situations may include; turnarounds, companies undergoing restructuring, asset plays, and companies affected by regulatory changes and primary market listings. The scheme will carefully analyze any such instance and participate in the same as such; corporate action often unlocks a lot of value for the investors Strategy for investments in Debt/ Money Market Instruments: To achieve its investment objective, the Scheme may also invest, in Debt Instruments which are listed/unlisted and/or rated/unrated debt or money market instruments/securities, securities issued/ guaranteed by the Central/State Governments, securities issued by public/private sector companies/corporations, short term deposits with banks like Fixed Deposits, financial institutions and/or money market instruments such as commercial paper, certificates of deposit, permitted securities under a reverse-repo agreement, etc. These instruments may carry a fixed rate of return or a floating rate of return or may be issued on a discounted basis. Investments will be made in instruments, which in the opinion of the Fund Manager, are of an acceptable credit quality and chance of default is minimum while conforming to the internal broad guidelines provided in the Investment Policy. The Fund Manager will generally be guided by, but not restrained by, the ratings announced by various rating agencies and independent in-house assessment on the assets in the portfolio. The fund management team with the support of research team will take an active view of the interest rate movement by keeping a close watch on various

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parameters of the Indian economy, as well as developments in global markets. Investment views / decisions will be taken on the basis of the following parameters: 1. Prevailing interest rate scenario 2. Quality of the security / instrument (including the financial health of the issuer) 3. Maturity profile of the instrument 4. Liquidity of the security 5. Growth prospects of the company / industry 6. Any other factor in the opinion of the fund management team Investment in Mutual Fund Units: To avoid duplication of portfolios and to reduce expenses, the Scheme may also invest in scheme managed by the AMC or in the scheme of other Mutual Fund, provided that aggregate inter- scheme investment made by all schemes managed by the AMC either in its own schemes or of any other Mutual Fund shall not exceed 5% or such other permitted limit, of the Net Asset Value of the Fund. No investment management fees shall be charged for investing in other schemes of the fund or in the schemes of any other Mutual Fund. Risk Control: ITI Arbitrage Fund will allocate assets predominantly in arbitrage opportunities between spot and futures prices of exchange traded equities and the arbitrage opportunities available within the equity derivative segment and the balance in debt and money market instruments. This allocation will be steadily monitored and it shall be ensured that investments are made in accordance with the Scheme objective and within the regulatory and internal investment restrictions prescribed from time to time. This Scheme offers lower risk alternative to pure diversified equity funds due to its investment strategy. Since disciplined investing requires risk management, the AMC would incorporate adequate safeguards for controlling risks in the portfolio construction process. The fund has designed a detailed process to identify, measure, monitor and manage the portfolio risk. The aim is not to eliminate the risk completely but to have a structured mechanism towards risk management thereby maximizing potential opportunities and minimize the adverse effects of risk. Few of the key risk identified are:

Risk & Description specific to the Scheme Risk mitigants / management strategy Market risk Risk arising due to vulnerability to price fluctuations and volatility, having material impact on the overall returns of the scheme

Endeavour to have a well diversified portfolio of good companies with the ability to use cash/derivatives for hedging

Derivatives risk Various inherent risks arising as a consequence of investing in derivatives.

Continuous monitoring of the derivatives positions and strictly adheres to the regulations and internal norms

Credit risk Risk associated with repayment of investment Performance risk Risk arising due to change in factors affecting the market

Investment universe carefully selected to only include issuers with high credit quality understand the working of the markets and respond effectively to market movements

Concentration risk Risk arising due to overexposure in few securities

Invest across the spectrum of issuers and keeping flexibility to invest across tenor

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Risk & Description specific to the Scheme Risk mitigants / management strategy Liquidity risk Risk arising due to inefficient Asset Liability Management, resulting in high impact costs

Control portfolio liquidity at portfolio construction stage. Having optimum mix of cash & cash equivalents along with the debt papers in the portfolio

Interest rate risk Price volatility due to movement in interest rates

Control the portfolio duration and periodically evaluate the portfolio structure with respect to existing interest rate scenario

Event risk Price risk due to company or sector specific event

Understand businesses to respond effectively and speedily to events. Usage of derivatives: Hedge portfolios, if required, in case of predictable events with uncertain outcomes.

Debt and Money Markets in India

The Indian debt market is today one of the largest in Asia and includes securities issued by the Government (Central & State Governments), public sector undertakings, other government bodies, financial institutions, banks and corporates. Government and public sector enterprises are the predominant borrowers in the markets. Securities in the debt market typically vary based on their tenure and rating. The major players in the Indian debt markets today are banks, financial institutions, mutual funds, insurance companies, primary dealers, trusts, pension funds and corporates. The Indian debt market is the largest segment of the Indian financial markets. The debt market comprises broadly two segments, viz. Government Securities market or G-Sec market and corporate debt market. The latter is further classified as market for PSU bonds and private sector bonds. The Government Securities market is the oldest and the largest component of the Indian debt market in terms of market capitalization, outstanding securities and trading volumes. The G-Sec market plays a vital role in the Indian economy as it provides the benchmark for determining the level of interest rates in the country through the yields on the Government Securities which are referred to as the risk-free rate of return in any economy. Over the years, there have been new products introduced by the RBI like zero coupon bonds, floating rate bonds, inflation indexed bonds, etc. The corporate bond market, in the sense of private corporate sector raising debt through public issuance in capital market, is only an insignificant part of the Indian Debt Market. A large part of the issuance in the non- Government debt market is currently on private placement basis.

The money markets in India essentially consist of the call money market (i.e. market for overnight and term money between banks and institutions), reverse repo transactions (temporary buy with an agreement to sell the securities at a future date at a specified price), commercial papers (CPs, short term unsecured promissory notes, generally issued by corporates), certificate of deposits (CDs, issued by banks) and Treasury Bills (issued by RBI) and similar securities. In a predominantly institutional market, the key money market players are banks, financial institutions, insurance companies, mutual funds, primary dealers and corporates. In money market, activity levels of the Government and non government debt vary from time to time.

Apart from these, there are some other options available for short tenure investments that include MIBOR linked debentures with periodic exit options and other such instruments. PSU / DFI / Corporate paper with a residual maturity of less than 1 year are actively traded and offer a viable investment option.

Following table exhibits various debt instruments along with current yields as on May 31, 2020.

Instrument Yield Range

(% per annum) Tri – Party Repo 3.11 Repo 3.08 91 days T-Bill 3.30 364 days T-Bill 3.50-3.55

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1 month CD/CP 3.25-4.00 3 month CD/CP 3.30-4.05 6 month CD/CP 3.95-4.75 1 year CD/CP 4.20-5.85 1 year Corporate Bond - AAA Rated 4.60-4.70 3 year Corporate Bond - AAA Rated 5.45-5.50 5 year Corporate Bond - AAA Rated 5.85-5.90 5 year G-sec 5.10-5.15 10 year G-sec 5.79-7.85

(Source: Bloomberg, NDS OM and CCIL) These yields are indicative and do not indicate yields that may be obtained in future as interest rates keep changing consequent to changes in macro-economic conditions and RBI policy. The price and yield on various debt instruments fluctuate from time to time depending upon the macro economic situation, inflation rate, overall liquidity position, foreign exchange scenario etc. Also, the price and yield vary according to maturity profile, credit risk etc.

Portfolio Turnover:

The Scheme will endeavour to keep the portfolio turnover at a reasonable level. However the portfolio turnover ratio may vary as the scheme may change the portfolio according to Asset Allocation to align itself with the objectives of the scheme. Portfolio turnover may also vary, based on inflows & outflows in the fund. The effect of higher portfolio turnover could be higher brokerage and transaction costs. F. INVESTMENT BY THE AMC IN THE SCHEME The AMC may also invest in existing Schemes of the Mutual Fund. As per the existing SEBI (MF) Regulations, the AMC will not charge Investment Management and Advisory fee on the investment made by it in the Scheme or other existing schemes of the Fund. G: FUNDAMENTAL ATTRIBUTES Following are the Fundamental Attributes of the Scheme, in terms of Regulation 18(15A) of the SEBI (MF) Regulations:

(i) Type of a Scheme

An open ended scheme investing in arbitrage opportunities.

(ii) Investment Objective

• The main investment objective is defined in Section II of this SID. • The investment pattern is as set out in Section II, Paragraph C of this SID with the option to alter the

asset allocation for a short term period on defensive considerations.

(iii) Terms of Issue

• Liquidity provisions such as listing, repurchase, redemption

The Units of the Scheme are not proposed to be listed on any stock exchange. However, the Trustee reserves the right to list the Units as and when this Scheme is permitted to be listed under the Regulations and the Trustee considers it necessary in the interest of Unit holders of the Fund.

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The Scheme offers Units for subscription and redemption at NAV based prices on all Business Days on an ongoing basis, commencing not later than five business days from the date of allotment. Under normal circumstances, the AMC shall dispatch the Redemption proceeds within 10 Business Days from date of receipt of request from the Unit holder.

• Aggregate fees and expenses charged to the scheme

The aggregate fees and expenses charged to the Scheme will be in line with the limits defined in the SEBI (MF) Regulations as amended from time to time. The aggregate fee and expenses to be charged to the Scheme is detailed in Section IV of this document.

• Any safety net or guarantee provided

The Scheme does not provide any safety net or guarantee nor does it provide any assurance regarding the realization of the investment objective of the scheme or in respect of declaration of dividend.

Changes in Fundamental Attributes In accordance with Regulation 18(15A) of the SEBI (MF) Regulations, the Trustee shall ensure that no change in the fundamental attributes of the Scheme or the trust or fee and expenses payable or any other change which would modify the Scheme and affect the interests of Unitholders is carried out unless:

• A written communication about the proposed change is sent to each Unitholder and an advertisement

is given in one English daily newspaper having nationwide circulation as well as in a newspaper published in the language of the region where the Head Office of the Mutual Fund is situated; and

• The Unitholders are given an option for a period of 30 days to exit at the prevailing Net Asset Value without any exit load.

However, changes / modifications to the Scheme made in order to comply with any subsequent change in Regulations or circulars issued by SEBI will not constitute change in fundamental attributes.

H. HOW WILL THE SCHEME BENCHMARK ITS PERFORMANCE?

The performance of the Scheme will be benchmarked with Nifty 50 Arbitrage Index.

Justification for use of benchmark

The Scheme performance would be benchmarked against Nifty 50 Arbitrage index which measure the performance of arbitrage strategies. The index measures performance of portfolio involving investment in equity and equivalent short position equity futures, etc. It is the most popular and widely followed benchmark to track the performance of the equity market in India. The Trustee reserves the right to change the benchmark for the evaluation of the performance of the Scheme from time to time, keeping in mind the investment objective of the Scheme and the appropriateness of the benchmark, subject to the Regulations and other prevalent guidelines.

I. WHO MANAGES THE SCHEME?

All funds will be managed in a co-fund manager model. Co-managed by Mr. George Heber Joseph & Mr. Milan Modi, since its inception of the scheme.

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Name of the Fund Manager

Age / Qualification

Experience of the Fund Manager in the last 10 years

Other Schemes managed by the Fund Manager

Mr. George Heber Joseph

Age: 44

Qualification : ACA, ACMA, Bachelor of Arts – English language and literature and Bachelor of Commerce

He has joined ITI Asset Management Limited in November 2018 and has over 17 years of work experience in Fund Management, Equity Research and Capital Markets.

Past Experience: Last designation – Senior Fund Manager (Vice President Grade & Key Management Personnel) – ICICI Prudential Asset Management Co. Ltd. He has been associated with the Fund Management Team of ICICI Prudential Asset Management Company Limited from 2008 to 2018. He has tracked various sectors, wide variety of stocks, managed flagship funds like Multicap (ICICI Prudential Multicap Fund), ELSS (ICICI Prudential Long Term Equity Fund –Tax Saving), Child Care (ICICI Prudential Child Care Gift Plan) and was also responsible for various closed ended schemes of ICICI Prudential Mutual Fund with assets under management exceeding Rs. 10000 cores.

During his tenure he was also heading the Portfolio Management Services Division, was responsible to oversee fund managers activities, managing research analysts, performance measurement and work as a sounding board for fund managers. In his previous assignments he has been associated with organizations like DSP Merrill Lynch Ltd, Wipro Ltd, MetLife India, Cholamandalam Investments & Finance Company Ltd and Tanfac Industries Ltd where he has handled fund management and corporate treasury responsibilities.

Co-Fund Manager of ITI Liquid Fund, ITI Multi Cap Fund, ITI Long Term Equity Fund, ITI Arbitrage Fund, ITI Overnight Fund, ITI Balanced Advantage Fund and ITI Small Cap Fund.

Mr. Milan Mody Age : 40 years Qualification : MBA Finance and B.Com

He has joined ITI Asset Management Limited in November 2017 and has over 16 years of work experience in Fund Management and Dealing in Fixed Income Market.

Past Experience: Last designation – Product & Investment Manager – ZyFin Research Private Ltd from Nov 2015 to October 2017. He was managing Indian Fixed Income ETFs covering Indian Sovereign Bond ETF and PSU Corporate Bond ETF with a total assets over USD 75 million, other managed ETFs include Zyfin Turkey Sovereign Bond ETF and Zyfin MSCI India ETF in collaboration with foreign institutional players. During his

Co-Fund Manager of ITI Liquid Fund and ITI Overnight Fund

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tenure he was responsible for Fund Management and Product Development covering fixed income markets.

Prior to joining ZyFin Research Private Ltd, he was a Fund Manager at Sahara India Life Insurance Company Ltd managing ULIPs and Traditional scheme portfolios and he was associated with the company from November 2005 till October 2015. During his tenure he has managed six ULIP schemes with participating and non-participating funds (traditional schemes) along with his team. He was also associated with debt Intermediaries like Darashaw and BRICS securities (who caters to institutional investors and FPIs in Wholesale Debt Market) from 2002 to 2005.

J. WHAT ARE THE INVESTMENT RESTRICTIONS?

The investment policies of the scheme will comply with the rules, regulations and guidelines laid out in SEBI (Mutual Funds) Regulations, 1996. As per the Regulations, specifically the Seventh Schedule, the following investment limitations are applicable to the scheme:

1. The Mutual Fund under all its schemes shall not own more than 10% of any company’s paid up capital carrying voting rights. Provided, no sponsor of the mutual fund, its associate or group company including the asset management company of the fund, through the schemes of the mutual fund or otherwise, individually or collectively, directly or indirectly, have

a.10% or more of the share holding or voting rights in the asset management company or the trustee company of any other mutual fund; b. representation on the board of the asset management company or the trustee company of any other mutual fund.

2. The Scheme shall buy and sell Securities on the basis of deliveries and shall in all cases of purchases, take

delivery of relevant Securities and in case of sale deliver the securities.

Provided that the Fund may enter into derivatives transactions on a recognised stock exchange subject to such guidelines as may be specified by SEBI. Provided further that sale of government security already contracted for purchase shall be permitted in accordance with the guidelines issued by the Reserve Bank of India in this regard.

3. The Scheme shall not invest more than 10% of its NAV in the equity shares or equity-related instruments of any company. For the purpose of determining the above limit, a combination of positions of the underlying securities and stock derivatives, will be considered.

4. All investments by the scheme in equity shares and equity related instruments shall only be made provided such securities are listed or to be listed.

5. The Scheme shall not invest more than 10% of its NAV in debt instruments comprising money market

instruments and non-money market instruments issued by a single issuer which are rated not below investment grade by a credit rating agency authorised to carry out such activity under the SEBI Act, 1992. Such investment limit may be extended to 12% of the NAV of the Scheme with the prior approval of the Board of Trustee and the Board of directors of the AMC.

Provided that such limit shall not be applicable for investments in Government Securities, treasury bills and

40

TREPS. Provided further that investment within such limit can be made in mortgaged backed securitised debt which are rated not below investment grade by a credit rating agency registered with SEBI.

6. The Scheme shall not invest in unlisted debt instruments including commercial papers, except Government Securities, other money market instruments and derivative products such as Interest Rate Swaps, Interest Rate Futures, etc. which are used by mutual fund for hedging.

However, mutual fund schemes may invest in unlisted Non-Convertible Debentures (NCDs) not exceeding 10% of the debt portfolio of the scheme subject to the condition that such unlisted NCDs have a simple structure(i.e. with fixed and uniform coupon, fixed maturity period, without any options, fully paid up upfront, without any credit enhancements or structured obligations) and are rated and secured with coupon payment frequency on monthly basis. Provided further that the Scheme shall comply with the norms under this clause within the time and in the manner as may be specified by the Board.

7. Investment in unrated debt and money market instruments, other than government securities, treasury bills,

derivative products such as Interest Rate Swaps (IRS), Interest Rate Futures (IRF), etc. shall be subject to the following:

a. Investments should only be made in such instruments, including bills re-discounting, usance bills, etc., that are generally not rated and for which separate investment norms or limits are not provided in SEBI (Mutual Fund) Regulations, 1996 and various circulars issued thereunder. b. Exposure of mutual fund schemes in such instruments shall not exceed 5% of the net assets of the schemes. c. All such investments shall be made with the prior approval of the Board of AMC and the Board of trustees.

8. The scheme shall not make any investment in:

i) Any unlisted security of an associate or group company of the sponsors; or ii) Any security issued by way of private placement by an associate or group company of the sponsors; or iii) The listed securities of group companies of the sponsors which is in excess of 25% of the net assets of

the Scheme.

9. Transfers of investments from one scheme to another scheme in the same mutual fund shall be allowed only if, — (a) such transfers are done at the prevailing market price for quoted instruments on spot basis. [Explanation.

— “Spot basis” shall have same meaning as specified by stock exchange for spot transactions;] (b) the securities so transferred shall be in conformity with the investment objective of the scheme to which

such transfer has been made. 10. The Scheme may invest in other schemes of the Mutual Fund or any other mutual fund without charging any

fees, provided the aggregate inter-scheme investment made by all the schemes under the same management or in schemes under the management of any other asset management company shall not exceed 5% of the Net Asset Value of the Mutual Fund. Provided that this clause shall not apply to any Fund of Funds scheme.

11. The Mutual Fund shall get the securities purchased or transferred in the name of the Fund on account of the concerned Scheme, wherever investments are intended to be of a long-term nature.

12. Save as otherwise expressly provided under the Regulations, the Scheme shall not advance any loans for any purpose.

13. The Fund shall not borrow except to meet temporary liquidity needs of the Fund for the purpose of repurchase/redemption of Units or payment of interest and/or Dividend to the Unit holder.

The Fund shall not borrow more than 20% of the net assets of the Scheme and the duration of the borrowing shall not exceed a period of 6 months.

14. The Scheme shall not make any investment in any fund of funds scheme.

15. Pending deployment of the funds of the Scheme in securities in terms of the investment objective of the

41

Scheme, the Mutual Fund may park the funds of the Scheme in short term deposits of scheduled commercial banks, subject to the following guidelines issued by SEBI vide its circular dated April 16, 2007, August 16, 2019 and September 20, 2019 as may be amended from time to time:

(i) “Short Term” for such parking of funds by the Scheme shall be treated as a period not exceeding 91 days. Such short-term deposits shall be held in the name of the Scheme.

(ii) The Scheme shall not park more than 15% of the net assets in short term deposit(s) of all the scheduled commercial banks put together. However, such limit may be raised to 20% with prior approval of the Trustee.

(iii) Parking of funds in short term deposits of associate and sponsors scheduled commercial banks together shall not exceed 20% of total deployment by the Mutual Fund in short term deposits.

(iv) The Scheme shall not park more than 10% of the net assets in short term deposit(s), with any one scheduled commercial bank including its subsidiaries.

(v) The Scheme shall not park funds in short term deposit of a bank which has invested in that Scheme. Further, the Trustees/AMC shall also ensure that the bank in which a scheme has short term deposit do not invest in the said scheme, until the scheme has short term deposit with such bank.

(vi) The above norms do not apply to term deposits placed as margins for trading in cash and derivatives market.

(vii) The AMC shall not charge any investment management and advisory fees for parking of funds in short term deposits of scheduled commercial banks.

16. The Scheme will comply with any other regulations applicable to the investments of Mutual Funds from time

to time.

These investment restrictions shall be applicable at the time of investment and changes do not have to be effected merely because, owing to appreciations or depreciations in value, or by reason of the receipt of any rights, bonuses or benefits in the nature of capital or of any Schemes of arrangement or for amalgamation, reconstruction or exchange, or at any repayment or redemption or other reason outside the control of the Fund, any such limits would thereby be breached. If these limits are exceeded for reasons beyond its control, the AMC shall as soon as possible take appropriate corrective action, taking into account the interests of the Unit holders.

In addition, certain investment parameters (like limits on exposure to sectors, industries, companies, etc.) may be adopted internally by the AMC, and amended from time to time, to ensure appropriate diversification / security for the Fund. The Trusteeship Company / AMC may alter these above stated limitations from time to time, and also to the extent the SEBI (Mutual Funds) Regulations, 1996 change, so as to permit the Schemes to make its investments in the full spectrum of permitted investments for Mutual Fund to achieve its investment objective. As such all investments of the Schemes will be made in accordance with SEBI (Mutual Funds) Regulations, 1996, including Schedule VII thereof.

17. Limitations and restrictions for investments in derivative instruments

SEBI has vide its circular DNPD/Cir-29/2005 dated September 14, 2005 inter alia specified the guidelines pertaining to trading by Mutual Funds in Exchange Traded derivatives. The position limits have subsequently been modified vide circulars inter alia including circular no. DNPD/Cir-30/2006 dated January 20, 2006 and circular no. SEBI/DNPD/Cir-31/2006 dated September 22, 2006 and circular no. SEBI/HO/MRD/DP/CIR/P/ 2016/143 dated December 27,2016.

All derivative position taken in the portfolio would be guided by the following principles.

i. Position limit for the Mutual Fund in index options contracts a. The Mutual Fund position limit in all index options contracts on a particular underlying index shall be Rs.500 crore or 15% of the total open interest of the market in index options, whichever is higher, per Stock Exchange. b. This limit would be applicable on open positions in all options contracts on a particular underlying index.

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ii. Position limit for the Mutual Fund in index futures contracts a. The Mutual Fund position limit in all index futures contracts on a particular underlying index shall be Rs. 500 crore or 15% of the total open interest of the market in index futures, whichever is higher, per Stock Exchange. b. This limit would be applicable on open positions in all futures contracts on a particular underlying index.

iii. Additional position limit for hedging

In addition to the position limits at point (i) and (ii) above, the Mutual Fund may take exposure in equity index derivatives subject to the following limits:

a. Short positions in index derivatives (short futures, short calls and long puts) shall not exceed (in

notional value) the Mutual Fund's holding of stocks. b. Long positions in index derivatives (long futures, long calls and short puts) shall not exceed (in

notional value) the Mutual Fund's holding of cash, government securities, T-Bills and similar instruments.

iv. Position limit for Mutual Fund for stock based derivative contracts

The combined futures and options position limit shall be 20% of the applicable Market Wide Position Limit

(MWPL).

v. Position limit for each scheme of a Mutual Fund for stock based derivative contracts

The scheme-wise position limit / disclosure requirements shall be –

a. For stock option and stock futures contracts, the gross open position across all derivative contracts on a particular underlying stock of a scheme of a mutual fund shall not exceed the higher of:

1% of the free float market capitalisation (in terms of number of shares) or 5% of the open interest in the derivative contracts on a particular underlying stock (in terms of number of contracts).

b. This position limits shall be applicable on the combined position in all derivative contracts on an underlying stock at a Stock Exchange.

c. For index based contracts, Mutual Funds shall disclose the total open interest held by its scheme or all schemes put together in a particular underlying index, if such open interest equals to or exceeds 15% of the open interest of all derivative contracts on that underlying index.

Exposure limits for the Scheme:

In accordance with SEBI Circular No. Cir/ IMD/ DF/ 11/ 2010 dated August 18, 2010; the following exposure limits for investment in derivatives will be applicable to the Scheme:

I. The cumulative gross exposure through equity, debt and derivative positions shall not exceed

100% of the net assets of the Scheme. However, cash or cash equivalents with residual maturity of less than 91 days shall be treated as not creating any exposure.

II. The Scheme shall not write options or purchase instruments with embedded written options. III. The total exposure related to option premium paid shall not exceed 20% of the net assets of the

Scheme. IV. Exposure due to hedging positions may not be included in the above mentioned limits subject to

the following:

a. Hedging positions are the derivative positions that reduce possible losses on an existing position in securities and till the existing position remains.

b. Hedging positions cannot be taken for existing derivative positions. Exposure due to such positions have to be added and treated under limits mentioned in point 1 above.

c. Any derivative instrument used to hedge shall have the same underlying security as the existing

43

position being hedged. d. The quantity of underlying associated with the derivative position taken for hedging purposes

does not exceed the quantity of the existing position against which hedge has been taken.V. The Scheme may enter into plain vanilla interest rate swaps for hedging purposes. The counter

party in such transactions shall have to be an entity recognized as a market maker by RBI.Further, the value of the notional principal in such cases shall not exceed the value of respectiveexisting assets being hedged by the scheme. Exposure to a single counterparty in suchtransactions shall not exceed 10% of the net assets of the scheme.

VI. Exposure due to derivative positions taken for hedging purposes in excess of the underlyingposition against which the hedging position has been taken, shall be treated as exposure for thelimit mentioned in point 1 above.

VII. Definition of Exposure in case of Derivative Positions:

Each position taken in derivatives shall have an associated exposure as defined under. Exposureis the maximum possible loss that may occur on a position. However, certain derivative positionsmay theoretically have unlimited possible loss. Exposure in derivative positions shall becomputed as follows:

Position Exposure

Long Future Futures Price * Lot Size * Number of Contracts Short Future Futures Price * Lot Size * Number of Contracts Option bought Option Premium Paid * Lot Size * Number of Contracts

All the investment restrictions will be applicable at the time of making investments. Changes do not have to be effected merely because of appreciations or depreciations in value of the investments, or by reason of receipt of any rights, bonuses or benefits in the nature of capital or of any schemes of arrangement or of amalgamation, reconstruction or exchange, or at any repayment or redemption or other reason outside the control of the Fund resulting in any of the above limits getting breached. However, the AMC shall take appropriate corrective action as soon as possible taking into account the interests of the Unit holders.

K. HOW HAS THE SCHEME PERFORMED?

Performance of ITI Arbitrage Fund – Regular Plan - Growth Option as at May 31, 2020 is as follows:

Period ITI Arbitrage Fund – Regular Plan - Growth Option

Nifty 50 Arbitrage Index

1 year return NA NA 3 year returns NA NA 5 year returns NA NA Returns Since Inception (September 09, 2019) 3.73% 3.19%

Absolute Returns for each Financial Year for the last Five years

2.54%

2.73%

ITI Arbitrage FundRegular Growth

Nifty 50 ArbitrageIndex

F.Y. 2019-20

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Performance of ITI Arbitrage Fund – Direct Plan - Growth Option as at May 31, 2020 is as follows:

Period ITI Arbitrage Fund – Direct Plan - Growth Option

Nifty 50 Arbitrage Index

1 year return NA NA 3 year returns NA NA 5 year returns NA NA Returns Since Inception (September 09, 2019) 4.30% 3.19%

Absolute Returns for each Financial Year for the last Five years

Past Performance may or may not be sustained in Future. The Scheme was launched during the financial year 2019-2020. As the Scheme has completed one financial year on March 31, 2020 from the date of allotment, absolute return for one financial year have been provided. Calculations are based on Growth Option NAVs.

L. OTHERS

Investment by the AMC, Trustee, Sponsor, or their affiliates in the scheme The AMC, Trustee, Sponsor, or their affiliates may invest in the scheme in the NFO Period or thereafter at any time during the continuous offer period subject to the SEBI Regulations & circulars issued by SEBI and to the extent permitted by its Board of Directors from time to time. As per the existing SEBI Regulations, the AMC will not charge investment management and advisory fee on the investment made by it in the Scheme. As per SEBI (Mutual Funds) Amendment Regulations, 2014 notified on May 6, 2014, the sponsor or AMC shall invest not less than one percent of the amount which would be raised in the new fund offer or fifty lakh rupees, whichever is less, in the growth option of the scheme and such investment shall not be redeemed unless the scheme is wound up.

M. ADDITIONAL SCHEME DISCLOSURES a) Top 10 holdings by issuer and sectors (As on May 31, 2020)

Issuer Name % of Net

Assets Sector % of Net

Assets Vedanta Limited 9.29 Metals 9.29 Bharti Airtel Limited 8.53 IT 8.75 Lupin Limited 7.84 Pharma 8.56 Hindustan Unilever Limited 6.55 Telecom 8.53 Adani Enterprises Limited 5.85 Consumer Goods 6.55 Bharat Heavy Electricals Limited 5.30 Services 5.85 Housing Development Finance Corporation Limited 4.09

Industrial Manufacturing 5.30

2.97%

2.73%

ITI Arbitrage FundDirect Growth

Nifty 50 ArbitrageIndex

F.Y. 2019-20

45

Issuer Name % of Net Assets

Sector % of Net Assets

Infosys Limited 3.77 Financial Services 4.09 Pidilite Industries Limited 3.34 Chemicals 3.34 Grasim Industries Limited 2.01 Cement & Cement Products 2.01 Total 56.57 Total 62.77

For the latest monthly portfolio holding, kindly visit our website - https://www.itimf.com/statutory-disclosure/monthly-portfolios

b) The Portfolio Turnover Ratio of the Scheme as on May 31, 2020: 11.90 times.

c) The aggregate investment (market value) in the Scheme by AMC’s Board of Directors, Scheme’s Fund Manager and Other Key Managerial Personnel:

Particulars Aggregate Investments (Amount in Rs)

Board of Directors - Fund Manager 10,430 Other Key Managerial Personnel -

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III. UNITS AND OFFER

This section is not applicable, as the ongoing offer of the Scheme has commenced after the NFO, and the Units are available for continuous subscription and redemption. However details of the NFO relevant during the ongoing offer are provided below:

A. NEW FUND OFFER (NFO)

New Fund Offer Period This is the period during which a new scheme sells its Unit to the investors.

The New Fund Offer opened on August 20, 2019 and closed on September 03, 2019. The units under the Scheme were allotted on September 09, 2019. Further, the Scheme has opened for on-going subscription on September 12, 2019.

Plans / Options offered The Scheme will have two Plans i.e. Regular Plan and Direct Plan. Each plan offers the following options: a) Growth Option b) Dividend Option

• Dividend Payout Option • Dividend Re-investment Option

Direct Plan is only for investors who purchase /subscribe Units in a Scheme directly with the Fund (i.e. investments not routed through an AMFI Registration Number (ARN) Holder). Default Plan Investors subscribing under Direct Plan of the Scheme will have to indicate “Direct Plan” against the Scheme name in the application form. However, if distributor code is mentioned in application form, but “Direct Plan” is mentioned against the Scheme name, the distributor code will be ignored and the application will be processed under “Direct Plan”. Further, where application is received for Regular Plan without Distributor code or “Direct” mentioned in the ARN Column, the application will be processed under Direct Plan. The below table summarizes the procedures which would be adopted by the AMC for applicability of Direct Plan / Regular Plan, while processing application form /transaction request under different scenarios:

Sr. no

AMFI Registration Number (ARN) Code mentioned in the application Form / transaction request

Plan as selected in the application form / transaction request

Transaction shall be processed and Units shall be allotted under

1 Not mentioned Not mentioned Direct Plan 2 Not mentioned Direct Direct Plan 3 Not mentioned Regular Direct Plan 4 Mentioned Direct Direct Plan 5 Direct Not Mentioned Direct Plan 6 Direct Regular Direct Plan 7 Mentioned Regular Regular Plan 8 Mentioned Not Mentioned Regular Plan

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In cases of wrong/ invalid/ incomplete ARN codes mentioned on the application form, the application shall be processed under Regular Plan. The AMC shall endeavour to contact the investor/distributor and obtain the correct ARN code within 30 calendar days of the receipt of the application form from the investor/ distributor. In case, the correct code is not received within 30 calendar days, the AMC shall reprocess the transaction under Direct Plan from the date of application without any exit load. Default Option – Growth Default facility under Dividend Option – Reinvestment (i) Growth Option The Mutual Fund will not declare any dividends under this option. The income earned under this Option will remain invested in the option and will be reflected in the NAV. This option is suitable for investors who are not looking for current income but who have invested with the intention of capital appreciation. (ii) Dividend Option Under this option, dividends will be declared at periodic intervals at the discretion of the Trustees, subject to availability of distributable surplus calculated in accordance with SEBI (MF) Regulations. On payment of dividend, the NAV of the Units under dividend option will fall to the extent of the dividend payout and applicable statutory levies, if any. Dividend option offers (i) Dividend Payout; and (ii) Dividend Reinvestment facility. It must be distinctly understood that the actual declaration of dividend and frequency thereof is at the sole discretion of Board of Trustee. There is no assurance or guarantee to the Unit holders as to the rate of dividend distribution nor that the dividend will be paid regularly. Dividend Payout Facility Under this facility, dividend declared, if any, will be paid (subject to deduction of dividend distribution tax and statutory levy, if any) to those Unit holders, whose names appear in the register of Unit holders on the notified record date. If dividend payable under dividend payout option is less than Rs. 500/-, then the dividend would be compulsorily reinvested in the option of the Scheme.

Dividend Reinvestment Facility Under this facility, the dividend due and payable to the Unit holders will be compulsorily and without any further act by the Unit holder, reinvested in the dividend option at a price based on the prevailing ex-dividend Net Asset Value per Unit on the record date. The amount of dividend re-invested will be net of tax deducted at source, wherever applicable. The dividends so reinvested shall constitute a constructive payment of dividends to the Unit holders and a constructive receipt of the same amount from each Unit holder for reinvestment in Units. On reinvestment of dividends, the number of Units to the credit of Unit holder will increase to the extent of the dividend reinvested divided by the Applicable NAV.

There shall, however, be no Load(s) (if any) on the dividend so

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reinvested. For details on taxation of dividend, please refer the SAI. Notes: a. An investor on record for the purpose of dividend distributions is an

investor who is a Unit Holder as of the Record Date. In order to be a Unit Holder, an investor has to be allocated Units representing receipt of clear funds by the Scheme.

b. Investors should indicate the name of the Plan and/or Option, clearly in the application form. In case of valid applications received, without indicating the Plan and/or Option etc. or where the details regarding Option are not clear or ambiguous, the default options as mentioned above, will be applied.

Investors shall note that once Units are allotted, AMC shall not entertain requests regarding change of Option, with a retrospective effect.

Dividend Policy Under the Dividend option, the Trustee will have discretion to declare the dividend, subject to availability of distributable surplus calculated in accordance with the Regulations. The actual declaration of Dividend and frequency will inter-alia, depend on availability of distributable surplus calculated in accordance with SEBI (MF) Regulations and the decisions of the Trustee shall be final in this regard. There is no assurance or guarantee to the Unitholder as to the rate of Dividend nor that will the Dividend be paid regularly. The AMC/Trustee reserves the right to change the frequency of declaration of Dividend or may provide additional frequency for Declaration of Dividend. Dividend Distribution Procedure in accordance with SEBI Circular no. SEBI/ IMD/ Cir No. 1/ 64057/06 dated April 4, 2006, the procedure for Dividend distribution would be as under: 1. Quantum of Dividend and the record date will be fixed by the Trustee.

Dividend so decided shall be paid, subject to availability of distributable surplus.

2. Within one calendar day of decision by the Trustee, the AMC shall issue notice to the public communicating the decision about the Dividend including the record date, in one English daily newspaper having nationwide circulation as well as in a newspaper published in the language of the region where the head office of the Mutual Fund is situated.

3. Record date shall be the date, which will be considered for the purpose of determining the eligibility of Unitholders whose names appear on the register of Unitholder for receiving Dividends. The Record Date will be 5 calendar days from the date of issue of notice.

4. The notice will, in font size 10, bold, categorically state that pursuant to payment of Dividend, the NAV of the Scheme would fall to the extent of payout and statutory levy (if applicable).

5. The NAV will be adjusted to the extent of Dividend distribution and statutory levy, if any, at the close of Business Hours on record date.

6. Before the issue of such notice, no communication indicating the probable date of Dividend declaration in any manner whatsoever will be issued by Mutual Fund.

The requirement of giving notice shall not be applicable for dividend options having frequency upto one month.

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Allotment Full allotment will be made to all valid applications received during the New Fund Offer Period. Allotment of units shall be completed not later than 5 business days after the close of the New Fund Offer Period. On acceptance of the application for subscription, an allotment confirmation specifying the number of units allotted by way of e-mail and/or SMS within 5 business days from the date of closure of NFO period will be sent to the Unitholders/ investors registered e-mail address and/or mobile number. In cases where the email does not reach the Unitholder/ investor, the Fund / its Registrar & Transfer Agents will not be responsible, but the Unitholder/ investor can request for fresh statement/ confirmation. The Unitholder/ investor shall from time to time intimate the Fund / its Registrar & Transfer Agents about any changes in his e-mail address. Normally no Unit certificates will be issued. However, if the applicant so desires, the AMC shall issue a Unit certificate to the applicant within 5 Business Days of the receipt of request for the certificate. Unit certificate, if issued, must be surrendered along with the request for Redemption / Switch or any other transaction of Units covered therein. The Trustee reserves the right to recover from an investor any loss caused to the Scheme on account of dishonour of cheques issued by the investor for purchase of Units of the Scheme. Applicants under both the Direct and Regular Plan(s) offered under the Scheme will have an option to hold the Units either in physical form (i.e. account statement) or in dematerialized form. Where investors / Unitholders, have provided an email address, an account statement reflecting the units allotted to the Unitholder shall be sent by email on their registered email address. However, incase of Unit Holders holding units in the dematerialized mode, the Fund will not send the account statement to the Unit Holders. The statement provided by the Depository Participant will be equivalent to the account statement.

Refund Fund will refund the application money to applicants whose applications are found to be incomplete, invalid or have been rejected for any other reason whatsoever. The Refund proceeds will be paid by way of NEFT / RTGS / Direct credits/ IMPS / any other electronic manner if sufficient banking details are available with the Mutual Fund for the Unitholder or else through dispatch of Refund instruments within 5 business days of the closure of NFO period. In absence of the required banking details to process the refund through electronic manner, the refund instruments will be dispatched within 5 business days of the closure of NFO period. In the event of delay beyond 5 business days, the AMC shall be liable to pay interest at 15% per annum or such other rate of interest as may be prescribed from time to time. Refund orders will be marked “A/c Payee only” and drawn in the name of the applicant (in the case of a sole applicant) and in the name of the first applicant in all other cases, or by any other mode of payment as authorised by the applicant. All refund orders will be sent by registered post or as permitted by Regulations.

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Who can invest This is an indicative list and you are requested to consult your financial advisor to ascertain whether the scheme is suitable to your risk profile

Prospective investors are advised to satisfy themselves that they are not prohibited by any law governing them and any Indian law from investing in the Scheme and are authorised to purchase units of mutual funds as per their respective constitutions, charter documents, corporate / other authorisations and relevant statutory provisions. The following persons (subject, wherever relevant, to purchase of Units, being permitted and duly authorized under their respective constitutions / bye-laws, charter documents and relevant statutory regulations) are eligible and may apply for purchase Subscription to the Units under the Scheme: 1. Indian Resident adult individuals either singly or jointly (not exceeding

three) or on an Anyone or Survivor basis; 2. Hindu Undivided Family (HUF) through Karta; 3. Minor through parent / legal guardian; 4. Partnership Firms including limited liability partnership firms; 5. Proprietorship in the name of the sole proprietor; 6. Companies, Bodies Corporate, Public Sector Undertakings (PSUs.),

Association of Persons (AOP) or Bodies of Individuals (BOI) and societies registered under the Societies Registration Act, 1860;

7. Banks (including Co-operative Banks and Regional Rural Banks) and Financial Institutions;

8. Mutual Funds registered with SEBI; 9. Religious and Charitable Trusts, Wakfs or endowments of private trusts

(subject to receipt of necessary approvals as “Public Securities” as required) and Private trusts authorised to invest in mutual fund schemes under their trust deeds;

10. Non-Resident Indians (NRIs) / Persons of Indian origin (PIOs) residing abroad on repatriation basis or on non-repatriation basis;

11. Foreign Institutional Investors (FIIs) and their sub accounts registered with SEBI on repatriation basis;

12. Foreign Portfolio Investors (FPIs) registered with SEBI; 13. Army, Air Force, Navy and other para-military units and bodies created

by such institutions; 14. Scientific and Industrial Research Organisations; 15. Multilateral Funding Agencies / Bodies Corporate incorporated outside

India with the permission of Government of India / RBI; 16. Provident/ Pension/ Gratuity Fund to the extent they are permitted; 17. Other schemes of ITI Mutual Fund or any other mutual fund subject to the

conditions and limits prescribed by SEBI Regulations; 18. Trustee, AMC or Sponsor or their associates may subscribe to Units

under the Scheme; 19. Such other person as maybe decided by the AMC from time to time. The list given above is indicative and the applicable laws, if any, as amended from time to time shall supersede the list.

Who cannot invest It should be noted that the following persons cannot invest in the Scheme:

1. Any individual who is a foreign national or any other entity that is not an Indian resident under the Foreign Exchange Management Act, 1999 (FEMA Act) except where registered with SEBI as a FPI or FII or sub account of FII or otherwise explicitly permitted under FEMA Act/ by RBI/ by any other applicable authority, or as stated in the exception in point no. 5 hereunder;

2. Overseas Corporate Bodies (OCBs) 3. NRIs residing in Non-Compliant Countries and Territories (NCCTs) as

determined by the Financial Action Task Force (FATF), from time to

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time. 4. U.S. Persons and Residents of Canada as defined under the applicable

laws of U.S. and Canada, except subscriptions received by way of lump sum/switches/systematic transactions received from Non-Resident Indians (NRIs)/ Persons of Indian Origin (PIO); and Foreign Portfolio Investors (FPI)/Foreign Institutional Investors (FII). The investors need to submit a transaction request along with such documents as may be prescribed by ITIAML/the Fund from time to time.

The Investors may be requested to note that, neither the Scheme Information Document (“SID”)/Key Information Document (“KIM”)/Statement of Additional Information (“SAI”) [“Scheme Related Documents”] nor the units of the scheme(s) of ITI Mutual Fund have been registered under the relevant laws, as applicable in the territorial jurisdiction of United States of America nor in any provincial/territorial jurisdiction in Canada. The distribution of the Scheme related document in certain jurisdictions may be restricted or subject to registration requirements and, accordingly, persons who come into possession of the Scheme related documents are required to inform themselves about, and to observe any such restrictions. No persons receiving a copy of the Scheme related documents or any accompanying application form in such jurisdiction may treat these Scheme related documents or such application form as constituting an invitation to them to subscribe for units, nor should they in any event use any such application form, unless in the relevant jurisdiction such an invitation could lawfully be made to them and such application form could lawfully be used without compliance with any registration or other legal requirements. Accordingly the Scheme related documents do not constitute an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not lawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation as per applicable law. The investor shall be responsible for complying with all applicable laws for such investments. The AMC/Trustee reserves the right to put the application form/transaction request on hold/reject the subscription/transaction request and redeem the units, if already allotted, as the case may be, as and when identified by the AMC that the same is not in compliance with the applicable laws, the terms and conditions stipulated by the AMC/Trustee from time to time and/or the documents/undertakings provided by such investors are not satisfactory. Such redemption will be processed at the applicable Net Asset Value and subject to applicable taxes and exit load, if any. The Mutual Fund reserves the right to include/exclude new/existing categories of investors to invest in the Scheme from time to time, subject to SEBI Regulations and other prevailing statutory regulations, if any. The Mutual Fund / Trustee / AMC may redeem Units of any Unitholder in the event it is found that the Unitholder has submitted information either in the application or otherwise that is false, misleading or incomplete or Units are held by any person in breach of the SEBI Regulations, any law or requirements of any governmental, statutory authority.

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Where can you submit the filled up applications

During the NFO period, the applications duly filled up and signed by the applicants should be submitted at the office of the ISCs of AMC / RTA whose names and addresses are mentioned at the end of this document. Investors can also subscribe units from the official website of AMC i.e. www.itimf.com. Pursuant to SEBI Circular dated SEBI/IMD/CIR No 18/198647/2010 March 15, 2010, an investor can also subscribe to the New Fund Offer (NFO) launched through ASBA facility. For further details on ASBA facility, investors are requested to refer to Statement of Additional Information (SAI).The AMC reserves the right to appoint collecting bankers during the New Fund Offer Period and change the bankers and/or appoint any other bankers subsequently.

Please refer to the back cover page of the Scheme Information Document for details.

How to Apply Please refer to the SAI and application form for the instructions

Listing The Scheme is an open ended equity scheme, sale and repurchase will be made on a continuous basis and therefore listing on stock exchanges is not envisaged. However, the Trustee may at their discretion list the units on any Stock Exchange.

Special Products / facilities available during the NFO

Switching Option During the NFO period, Switch request will be accepted upto 3.00 p.m. on the last day of the NFO. The investors will be able to invest in the NFO under the Scheme by switching part or all of their Unit holdings, if any, held in the respective option(s) /plan(s) of the existing scheme(s) of the Mutual Fund (subject to completion of lock-in period, if any, of the Units of the scheme(s) from where the Units are being switched). The Switch will be effected by way of a Redemption of Units from the Scheme/ Plan and a reinvestment of the Redemption proceeds in the Scheme and accordingly, to be effective, the Switch must comply with the Redemption rules of the Scheme/ Plan and the issue rules of the Scheme (e.g. as to the minimum number of Units that may be redeemed or issued, Exit Load etc). The price at which the units will be switched - out will be based on the redemption price of the scheme from which switch - out is done and the proceeds will be invested into the scheme at the NFO Price. The Switch request can be made on a pre-printed form or by using the relevant tear off section of the Transaction Slip enclosed with the Account Statement, which should be submitted at any of the ISCs. Applications Supported by Blocked Amount (ASBA) facility Investors also have an option to subscribe to units of the scheme during the New Fund Offer Period under the Applications Supported by Blocked Amount (ASBA) facility, which would entail blocking of funds in the investor’s Bank account, rather than transfer of funds, on the basis of an authorisation given to this effect at the time of submitting the ASBA application form. Presently ASBA is offered by selected Self Certified Syndicate Banks (SCSBs) which are registered with SEBI for offering the facility. Investors are requested to check with their respective banks about the availability of the ASBA facility. For the complete list of controlling / designated branches of above mentioned SCSB’s, please refer to the websites of SEBI, BSE and NSE at www.sebi.gov.in, www.bseindia.com and www.nseindia.com.

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Please refer to the SAI and Application form for the instructions. Stock Exchange Infrastructure Facility: The investors can subscribe to the Units of the Scheme through Mutual Fund Service System (“MFSS”), NMF II platform of National Stock Exchange and “BSEStAR MF” platform of Bombay Stock Exchange. MF Utility (MFU): Investor can also subscribe to the Units of the Scheme through MFU which allows transacting in multiple Schemes of various Mutual Funds with a single form / transaction request and a single payment instrument / instruction. All financial and non-financial transactions pertaining to Schemes of ITI Mutual Fund can also be submitted through MFU either electronically or physically through the authorized Points of Service (“POS”) of MFUI. The list of POS of MFUI is published on the website of MFUI at www.mfuindia.com and may be updated from time to time.

Further, Systematic Investment Plan (SIP) / Systematic Withdrawal Plan (SWP) / Systematic Transfer Plan (STP) / Dividend Transfer Plan (DTP) facilities would be available to the investors. For details, investors/ unitholders are requested to refer to paragraph “Special Products available” given in the document under Ongoing Offer Details.

The policy regarding reissue of repurchased units, including the maximum extent, the manner of reissue, the entity(the Scheme or the AMC)involved in the same

Units once redeemed will be extinguished and will not be reissued.

Restrictions, if any, on the right to freely retain or dispose of units being offered

The Mutual Fund will be repurchasing (subject to completion of lock-in period, if any) and issuing units of the Scheme on an ongoing basis. Any addition / deletion of name from the folio of the Unit holder is deemed as transfer of Units. In view of the same, additions / deletions of names will not be allowed under any folio of the Scheme. The said provisions in respect of deletion of names will not be applicable in case of death of a Unit holder (in respect of joint holdings) as this is treated as transmission (transfer of units by operation of law) of Units and not transfer.

The Asset Management Company shall, on production of instrument of transfer together with relevant unit certificates, register the transfer and return the unit certificate to the transferee within 30 days from the date of such production. The Units of the Scheme held in the dematerialised form will be fully and freely transferable (subject to lock-in period, if any and subject to lien, if any marked on the units) in accordance with the provisions of SEBI (Depositories and Participants) Regulations, 1996 as may be amended from time to time and as stated in SEBI Circular No. CIR/IMD/DF/10/2010 dated August 18, 2010. Further, for the procedure of release of lien, the investors shall contact their respective DP.

Also, when a person becomes a holder of the units by operation of law or upon enforcement of pledge, then the AMC shall, subject to production/submission of such satisfactory evidence, which in its opinion is sufficient, effect the transfer, if the intended transferee is otherwise eligible to hold the units.

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Please refer to paragraphs on ‘Transfer and Transmission of units’, ‘Right to limit redemption’, ‘Suspension of purchase and / or redemption of Units and dividend distribution’ and ‘Pledge of Units’ in the SAI for further details.

Cash Investments in mutual funds

In order to help enhance the reach of mutual fund products amongst small investors, who may not be tax payers and may not have PAN/bank accounts, such as farmers, small traders/businessmen/workers, SEBI has permitted receipt of cash transactions for fresh purchases/ additional purchases to the extent of Rs.50,000/- per investor, per financial year shall be allowed subject to:

i. compliance with Prevention of Money Laundering Act, 2002 and Rules framed there under; the SEBI Circular(s) on Anti Money Laundering (AML) and other applicable Anti Money Laundering Rules, Regulations and Guidelines; and

ii. Sufficient systems and procedures in place. However, payment towards redemptions, dividend (if applicable) with respect to aforementioned investments shall be paid only through banking channel. The Fund/ AMC is currently in the process of setting up appropriate systems and procedures for the said purpose. Appropriate notice shall be displayed on its website viz. as well as at the Investor Service Centres, once the facility is made available to the investors.

B. ONGOING OFFER DETAILS:-

Ongoing Offer Period This is the date from which the Scheme will reopen for subscriptions /redemptions after the closure of the NFO period.

The Scheme being an ongoing Scheme the Units of the Scheme are available for subscription / redemption at applicable NAV based prices, subject to prevalent load provisions, if any.

Ongoing price for subscription (purchase)/switch-in (from other Schemes/Plans of the Mutual Fund) by investors. This is the price you need to pay for purchase/Switch-in.

Units of the Scheme shall be available for subscription (purchase)/switch- in at the Applicable NAV.

Ongoing price for redemption (sale) / switch outs (to other schemes/plans of the Mutual Fund) by Investors.

This is the price you will receive for redemptions/ Switch outs.

Example: If the applicable NAV is Rs.10, exit load is 2% then redemption price will be:

Rs.10* (1-0.02) = Rs.9.80

Units of the Scheme can be redeemed/ switched out at the Applicable NAV subject to prevailing exit load.

The Repurchase Price however, will not be lower than 93% of the NAV and the Sale Price shall not be higher than 107% of the NAV subject to SEBI Regulations as amended from time to time. Similarly, the difference between the Repurchase price and Sale price at any point in time shall not exceed the permitted limit as prescribed by SEBI from time to time which is presently 7% calculated on the Sale Price.

Methodology of calculation of repurchase price:

For calculating the repurchase price, the exit load applicable at the time of investment shall be deducted from the applicable NAV of the Scheme.

For example: If the applicable NAV of the Scheme is Rs. 11 and the Exit

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Load applicable at the time of investment is 1% if redeemed before completion of 1 year from the date of allotment of units and the investor redeems units before completion of 1 year, then repurchase price will be calculated as follows:

Step 1: Applicable NAV * Exit Load at the time of investment in % = Exit Load Amount; i.e. Rs. 11 * 1% = Rs. 0.11;

Step 2: Applicable NAV - Exit Load Amount = Repurchase price; i.e. Rs. 11- Rs. 0.11 = Rs.10.89.

Cut off timing for subscriptions / redemptions / switches

This is the time before which your application (complete in all respects) should reach the official points of acceptance

The following cut-off timings shall be observed by the Mutual Fund in respect of purchase of the Units of the scheme, and the following NAVs shall be applied for such purchase:

1. Where the application is received upto 3.00 p.m. with a local chequeor demand draft payable at par at the place where it is received, withamount less than Rs. 2 lakhs – closing NAV of the day of receipt ofapplication;

2. Where the application is received after 3.00 p.m. with a local chequeor demand draft payable at par at the place where it is received, withamount less than Rs. 2 lakhs – closing NAV of the next Business Day;

3. Where the application is received with an outstation cheque ordemand draft which is not payable on par at the place where it isreceived –closing NAV of day on which the cheque or demand draft iscredited.

In respect of purchase of units with an amount equal to or more than Rs. 2 lakhs, irrespective of the time of receipt of application, the closing NAV of the day on which the funds are available for utilisation shall be applicable.

For allotment of units in respect of purchase / switch-in to the Scheme for an amount equal to or more than Rs. 2 lakhs, it shall be ensured that:

(i) For allotment of units in respect of purchases in the Scheme, itshall be ensured that the application is received before theapplicable cut-off time, the funds for the entire amount ofsubscription / purchase as per the application are credited to the bankaccount of the Scheme before the cut-off time and the funds areavailable for utilization before the cut-off time without availing anycredit facility whether intra-day or otherwise, by the Scheme.

(ii) For allotment of units in respect of switch-in to the Scheme from otherschemes, it shall be ensured that the application for the switch-inis received before the applicable cut-off time, the funds for the entireamount of subscription / purchase as per the switch-in request arecredited to the bank account of the Scheme before the cut-off timeand the funds are available for utilization before the cut-off timewithout availing any credit facility whether intra-day or otherwise,by the Scheme.

For Redemption / switch out under both the Plans

(a) where the application is received upto 3.00 p.m. – the closing NAV ofthe day; and

(b) where the application is received after 3.00 p.m. – the closing NAV ofthe next Business Day.

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Note: In case the application is received on a Non-Business Day, it will be considered as if received on the Next Business Day.

The above mentioned cut off timing shall also be applicable to transactions through the online trading platform.

In case of Transaction through Stock Exchange Infrastructure, the Date of Acceptance will be reckoned as per the date & time; the transaction is entered in stock exchange’s infrastructure for which a system generated confirmation slip will be issued to the investor.

Where can the applications for purchase / redemption / switches be submitted?

Investors can submit the application forms for purchase or redemption or switch at any of the Official Points of Acceptance, details of which are mentioned on the back cover page of this document.

Investors are requested to note that the Investor Service Centres/Official Points of Acceptance of the Mutual Fund or its Registrar will not accept redemption requests for units held in demat mode. Investors who hold units in demat form, would need to route redemption requests through their DPs in the format prescribed by them.

Investors are requested to note that an Application Form accompanied by a payment instrument issued from a bank account other than that of the Applicant / Investor will not be accepted except in certain circumstances. For further details, please refer paragraph “Restriction on Acceptance of Third Party Payment Instruments for Subscription of Units” under the section “How to Apply?” in SAI.

Minimum amount for purchase/Redemption/switches

Minimum amount for new purchase/switch in

Rs. 5,000 and in multiples of Re.1 thereafter

Minimum additional amount for purchase / switch in: Rs. 1,000 and in multiples of Rs.1 thereafter.

The minimum subscription limits for new purchases/additional purchases will apply to each Plan/option separately.

Minimum amount for redemption / switch out Rs. 1,000/- and in multiples of Rs. 1/- thereafter or the account balance, whichever is lower.

In case the investor specifies the number of units and amount to be redeemed, the number of units shall be considered for redemption. In case the unitholder does not specify the number of units or amount to be redeemed, the redemption request will not be processed.

The AMC reserves the right to change the minimum amounts for various purchase/ redemption/ switch. Such changes shall only be applicable to transactions on a prospective basis.

Minimum balance to be maintained and consequences of non maintenance

There is no minimum balance required for the scheme.

Special Products Available The Special Products / Facilities available under the Scheme, are:

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i) Systematic Investment Plan ii) Systematic Transfer Plan iii) Systematic Withdrawal Plan iv) Dividend Transfer Plan v) One Time Mandate vi) Facility to purchase/ redeem units of the Scheme through Stock

Exchange Mechanism (as and when provided).

1. SYSTEMATIC INVESTMENT PLAN (SIP) This facility enables investors to save and invest periodically over a long period of time. Particulars Frequency Available Daily Weekly Monthly SIP Transaction Dates

Every Business Day

7th, 14th, 21st, 28th

Any date from 1st to 28th of the month**

Minimum no. of installments and Minimum amount of installment*

One Month installments of Rs. 500/- each and in multiples of Re.1/- thereafter

12 installments of Rs. 500/- each and in multiples of Re.1/- thereafter or 6 installments of Rs. 1,000/- each and in multiples of Re.1/- thereafter

12 installments of Rs. 500/- each and in multiples of Re.1/- thereafter or 6 installments of Rs. 1,000/- each and in multiples of Re.1/- thereafter

Mode of Payment

a. Electronic Clearing Service (ECS) b. Post Dated Cheques (PDCs) c. National Automated Clearing House (NACH)

Facility *Minimum application amount is not applicable to SIP Transaction

**In case the date chosen for SIP falls on a Non Business Day oron a date which is not available in a particular month, the SIP willbe processed on the immediate next Business Day. (i) An investor needs to provide the first cheque / Demand Draft with the

SIP application form. The date of the first cheque shall be the same as the date of the application. The remaining payment instructions / cheque can be on any dates of the month as specified in the SIP application form.

(ii) The applicable NAV in such first sale shall be the NAV based on the date and time of receipt of application along with the cheque subject to the funds are available for utilization.

(iii) SIP shall be started subject to realization of the first installment. (iv) There is no upper limit for individual installments / aggregate

investment made under Daily/ Weekly/Monthly SIP. (v) The request for enrollment / processing of SIP will only be on a

Business Day at the applicable NAV. In case during the term of SIP processing date falls on a non-Business Day, then such request will

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be processed on the next following Business Day’s applicable NAV. (vi) The request for enrollment of SIP in the prescribed form should be

received at any official point of acceptance / Investor service center at least 30 Calendar Days in advance before the execution / commencement date.

(vii) The request for discontinuation of SIP in the prescribed form should be received at any official point of acceptance / Investor Service Center at least 30 Calendar Days in advance before the execution / commencement date.

(viii) The units will be allotted to the investor at applicable NAV of the respective Business Days on which the investment are sought to be made as per the applicable cut-off timing subject to the funds are available for utilisation.

(ix) The AMC may also based on cheque authorization received from the Unitholder approach the Unitholder’s bank for setting up standing instruction for remittance of the stated SIP amount at stated intervals in favor of the Fund. In case the bank fails to take cognizance of the cheque authorisation, the Unitholder may be requested to re-send post-dated cheques. In case any particular date of the postdated cheque falls on a holiday the immediate next Business Days will be considered for this purpose.

The Unitholder’s account will be credited with the number of units at the applicable Sale Price. Unitholder may also leave a standing instruction with his/her bank to periodically remit a fixed sum from his/her account into the Scheme. A Unitholder should note that the market value of the Scheme’s units is subject to fluctuation. Before going in for the Systematic Investment Plan, the Unitholder should keep in mind that the SIP does not assure a profit or protect against a loss.

(x) In case of investments under SIP, if 3 or more consecutive payment instructions provided by the investor/unitholder are dishonored for either insufficiency of funds or as a result of a stop payment instruction issued by the investor/unitholder or any other reason as intimated by the bank, the AMC reserves the right to discontinue the SIP facility provided to the investor/unitholder.

(xi) An investor can also invest in the Scheme through SIP Facility through the Stock Exchange mechanism as such SIP frequency available under the Stock Exchange mechanism from time to time.

The provision for Minimum Application Amount will not be applicable under SIP Investments. SIP through post-dated cheques The date of the first cheque shall be the same as the date of the application while the remaining cheques shall be post dated cheques which shall be dated uniformly. Investors can invest in SIP by providing post-dated cheques to Official Point(s) of Acceptance.

All SIP cheques should be of the same amount and same SIP transaction date opted. Cheques should be drawn in favour of the Scheme and “A/c Payee only”. A letter will be forwarded to the Investor on successful registration of SIP. The Post Dated cheques will be presented on the dates mentioned on the cheque and subject to realization of the cheque.

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SIP through NACH Investors may also enroll for SIP facility through NACH (Debit Clearing) of the RBI or for SIP Direct Debit Facility available with specified Banks / Branches. In order to enroll for SIP NACH or Direct Debit Facility, an Investor must fill-up the Application Form for SIP NACH/ Direct Debit facility. In case of SIP with payment mode as NACH/Direct Debit, Investors shall be required to submit a cancelled cheque or a photocopy of a cheque of the bank account for which the NACH/Direct Debit Mandate is provided. All SIP cheques / payment instructions should be of the same amount and same date (excluding first cheque). However, there should be a gap of 30 calendar days between first SIP Installment and the second installment in case of SIP started during the ongoing offer. Units will be allotted at the Applicable NAV of the respective SIP transaction dates as per SIP mandate. In case the SIP transaction date falls on a non-business day or falls during a Book Closure period, the immediate next Business Day will be considered for this purpose.

An extension of an existing SIP mandate will be treated as a fresh SIP mandate on the date of such application, and all the above conditions need to be met with. For applicable Load on Purchases through SIP, please refer paragraph “Load Structure” given in the document. Micro Systematic Investment Plan (Micro SIP): The unit holder will have the facility of Micro SIP under the current Systematic Investment Plan facility. The Minimum Investment amount per installment will be as per applicable minimum investment amount of the respective Scheme. The total investment under Micro SIP cannot exceed Rs. 50,000/-. The minimum redemption amount will be Rs. 1000/- and in multiples of Rs. 1/- thereafter or the account balance, whichever is lower. In line with SEBI letter no. OW/16541/2012 dated July 24, 2012, addressed to AMFI, Investments in the mutual fund schemes [including investments through Systematic Investment Plans (SIP)]up to Rs. 50,000/ per investor per year shall be exempted from the requirement of PAN. However, requirements of Know Your Customer (KYC) shall be mandatory. Accordingly, investors seeking the above exemption for PAN still need to submit the KYC Acknowledgement, irrespective of the amount of investment. This exemption will be available only to Micro investment made by the individuals being Indian citizens (including NRIs, Joint holders, minors acting through guardian and sole proprietary firms). PIOs, HUFs, QFIs and other categories of investors will not be eligible for this exemption. SIP Top-Up Facility

The Facility enables unitholders to increase the SIP installment amount at pre-defined intervals by a fixed amount or anytime by a specified amount as per the request. The terms and conditions of the Facility are as follows: (i) Top-up facility will be allowed in case of Micro Investments subject to

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the condition that total investments including SIP Top-up by the investor does not exceed 50,000/- in a rolling 12 months period or in a financial year i.e. April to March i.e. the limit on Micro Investments.

(ii) The minimum Top-up amount is Rs. 500/- and in multiples of Rs. 500/- thereafter.

(iii) If the investor does not specify the Top-up amount, the default amount for Top-up will be considered as Rs. 500/-, and the application form shall be processed accordingly.

(iv) Top-Up facility can be availed at half yearly and yearly intervals. In case the Top-Up frequency is not specified, Default will be considered as yearly frequency.

(v) The facility is currently available only for SIP registration and installment payments made directly with the fund and through modes like NACH/ECS mode. Further the facility is currently not available for SIP registration made through (i) Post-dated cheques (PDCs).(ii) Channel Partners, (iii) Exchanges and (iv) ISIPs.

(vi) Top-Up facility would be available to all existing and new SIP enrolments. Existing investors who have enrolled for SIP are also eligible to avail Top-Up facility and will be required to submit 'Systematic Investment Plan (SIP) with Top-up Facility' at least 30 calendar days prior to the Top-Up start month. In case the request is not received at least 30 days prior to the SIP date, the Top-up will be applicable from the next effective SIP installment.

(vii) Once enrolled, in case the Investor wants to modify the Top-up details, the investor must cancel the existing SIP Top-up and enroll for a new SIP Top-up with the desired Top-up details.

(viii) SIP Top-up facility can be started after minimum 6 months from the date of 1st SIP for both New and Existing SIP Investors. If the end-date of the Top-up facility is not mentioned the Top-up facility will be continued till the tenure of the SIP. For example, if the SIP is registered till 2099, and the end date of the Top-up facility is not mentioned; then the Top-up will continue till 2099.

(ix) In case, the SIP Top up is cancelled, the SIP will be ceased. (x) SIP Top Up facility can be availed by Existing Investors who have

already registered any SIP with the fund, after a gap of 6 months from the date of submission of such Top Up application request and after the subsequent cycle date SIP has been processed. For Example if for an Existing SIP, the First SIP date is 15th of each Month from Jan 2020; and the Top-Up application request is submitted on 22nd Feb, 2020. The Next SIP date will be 15th of March, 2020; therefore the Top Up will start after 6 Months from 15th of September, 2020.

(xi) All other terms & conditions applicable for regular SIP Facility will also be applicable to Top-up Facility.

The AMC / Trustee reserve the right to change / modify the terms and conditions under the SIP prospectively at a future date. SIP Pause Facility

Under the SIP Pause Facility, the investor has an option to temporarily pause their existing SIP for a specified period of time. On the expiry of the specified period, the SIP would re-start automatically. The features, terms and conditions for availing the SIP Pause facility are as follows: -

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(i) All Under this Facility, the Investor has an option to temporarily stop the SIP for a specified period of time by submitting the form for SIP Pause Facility (available at www.itimf.com) at any of the Official Points of Acceptance of ITI Mutual Fund.

(ii) The SIP Pause form should be submitted at least 30 calendar days prior to the next SIP date.

(iii) The facility is presently not available for SIP registered through Mutual Fund Utility (“MFU”), Stock exchange platforms, Channel Partners and Standing Instruction mode.

(iv) The SIP shall restart automatically from the immediate next eligible installment after the completion of pause period.

(v) There would be no restriction on the number of times a SIP can be paused.

The AMC / Trustee reserve the right to change / modify the terms and conditions under the SIP prospectively at a future date. (2) Systematic Transfer Plan (STP): This facility enables the Unit holder to transfer fixed amount periodically from one scheme of the Mutual Fund (“Transferor Scheme”) to another (“Transferee Scheme”) by redeeming units of the Transferor Scheme at the Applicable NAV, subject to Exit Load, if any and investing the same amount in Transferee Scheme at the Applicable NAV, on a recurrent basis for a specified period at specified frequency as per the investor’s STP mandate. The provision of “Minimum Redemption Amount” of the designated Transferor Scheme(s) and “Minimum Application Amount” of the designated Transferee Scheme(s) shall not be applicable to STP. Investors may register for STP using a prescribed enrollment form. STP facility is offered by the Scheme subject to following terms and conditions: Particulars Frequency Available Daily Weekly Monthly STP Transaction Dates

Every Business Day

7th, 14th, 21st, 28th

1st or 7th or 14th or 21st or 28th of every month

Minimum no. of installments and Minimum amount of installment*

One Month installments of Rs. 1000/- each and in multiples of Re.1/ thereafter

Two installments of Rs. 1000/- each and in multiples of Re.1/ thereafter

Two installments of Rs. 1000/- each and in multiples of Re.1/- thereafter

*Minimum application amount is not applicable to STP Transaction Note: Anyone or more STP transaction dates from the available dates can be selected by the Unit Holders under the Monthly frequency Incase the STP dates fall on a non business day or a day followed by a non business day than the transfer will happen on the next business day. Default options Default Frequency – Monthly Default Date for monthly frequency – 7th of every month 1. If any STP transaction due date falls on a non-Business Day, then the respective transactions will be processed on the immediately succeeding Business Day.

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2. If the STP period or no. of installments is not specified in the transaction Form, the STP transactions will be processed until the balance of units in the unit holder’s folio in the Transferor Scheme becomes zero. 3. STP registered for more than one date under monthly option then it will be considered as separate STP instruction for the purpose of fulfilling the criteria under “Minimum no. of installments” section above. 4. The AMC reserves the right to introduce STP facility at any other frequencies or on any other dates as the AMC may feel appropriate from time to time. 5. The load structure in the Transferee Scheme prevailing at time of submission of STP application (whether for fresh enrollment or extension) will be applicable for all the investment through STP specified in such application. 6. The STP mandate has to be submitted 7 business days prior to the first STP date. The STP facility may be discontinued by a Unit holder by giving a written notice of 10 Business days to any of the Official Point(s) of Acceptance. STP mandate will terminate automatically if there is no Unit balance in the Transferor Scheme on the STP transaction date or upon the Mutual Fund receiving a written intimation of death of the sole / 1st Unit holder. 7. Units marked under lien or pledge in the Transferor Scheme will not be eligible for STP. 8. In case the unit balance in the Transferor Scheme is lesser than amount specified by the unit holders for STP, the AMC will transfer remaining unit balance to the Transferee Scheme. 9. STP in a folio of minor will be registered only upto the date of minor attaining majority even though the instruction may be for the period beyond that date. The provision for Minimum Application Amount will not be applicable under STP Investments. The AMC / Trustee reserve the right to change / modify the terms and conditions under the STP prospectively at a future date. 3. SYSTEMATIC WITHDRAWAL PLAN (SWP) This facility enables an investor to withdraw sums from their Unit accounts in the Scheme at periodic intervals through a one-time request. The withdrawals can be made as follows:

Particulars Frequency Available Monthly Quarterly SWP Transaction Dates

1st or 7th or 14th or 21st or 28th of every month

1st or 7th or 14th or 21st or 28th of month of every Quarter

Minimum no. of installments and Minimum amount of installment*

Two installments of Rs. 1000/- each and in multiples of Re.1/- thereafter

Two installments of Rs. 1000/- each and in multiples of Re.1/- thereafter

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*Minimum application amount is not applicable to SWP Transaction 1. The withdrawals will commence from the start date mentioned by the investor in the SWP Application Form. The Units will be redeemed at the Applicable NAV of the respective dates on which such withdrawals are sought. 2. The request for enrollment / processing of SWP will only be on a Business Day at the applicable NAV. In case during the term of SWP processing date falls on a non-Business Day, then such request will be processed on the next following Business Day’s applicable NAV. 3. The request for enrollment of SWP in the prescribed form should be received at any official point of acceptance / Investor service center at least 7 Business Days in advance before the execution / commencement date. 4. The request for discontinuation of SWP in the prescribed form should be received at any official point of acceptance / Investor Service Center at least 10 Business Days in advance before the execution / commencement date. The provision for Minimum Application Amount will not be applicable under SWP Investments. A request for STP / SWP will be treated as a request for Redemption from/Subscription into the respective Option(s)/Plan(s) of the Scheme(s) as opted by the Investor, at the applicable NAV. Switching Options: a) Inter - Scheme Switching option Unitholders under the Scheme have the option to Switch part or all of their Unitholdings in the Scheme to any other Scheme offered by the Mutual Fund from time to time. The Mutual Fund also provides the Unitholders the flexibility to Switch their investments from any other scheme(s) / plan (s) offered by the Mutual Fund to this Scheme. This option will be useful to Unitholders who wish to alter the allocation of their investment among the scheme(s) / plan(s) of the Mutual Fund in order to meet their changed investment needs.

The Switch will be effected by way of a Redemption of Units from the Scheme at Applicable NAV, subject to Exit Load, if any and reinvestment of the Redemption proceeds into another Scheme offered by the Mutual Fund at Applicable NAV and accordingly the Switch must comply with the Redemption rules of the Switch out Scheme and the Subscription rules of the Switch in Scheme. Intra -Scheme Switching option Unitholders under the Scheme have the option to Switch their Unit holding from one plan/option to another plan/option(i.e. Regular Plan to Direct Plan and Growth option to Dividend option and vice-a-versa). The Switches would be done at the Applicable NAV based prices and the difference between the NAVs of the two options will be reflected in the number of Unit allotted.

Switching shall be subject to the applicable “Cut off time and Applicable NAV” stated elsewhere in the Scheme Information Document. In case of “Switch” transactions from one scheme to another, the allocation shall be in line with Redemption payouts.

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4. DIVIDEND TRANSFER PLAN (DTP) Under this facility, the dividend declared in the Scheme, if any, can be transferred to any other open-ended scheme of the Fund (in existence at the time of declaration of dividend, as per the features of the respective scheme) at the Applicable NAV based prices. The amount to the extent of the dividend declared (net of the distribution tax and statutory levy, if any) will be automatically transfer out of this Scheme (source scheme) to the transferee scheme at the Applicable NAV based prices of the transferee scheme on the ex-dividend date and equivalent units will be allotted. The details, including mode of holding, of unit holders in the transferee scheme will be as per the existing folio in the source scheme. Units in the transferee scheme will be allotted in the same folio.

If the dividend payable under the Dividend Transfer Plan is equal to or less than Rs. 500 then the dividend would be compulsorily reinvested in the existing option of the Scheme. The provision for ‘Minimum Application Amount’ specified in the respective Target Scheme’s Scheme Information Document (SID) will not be applicable under DTP.

In case any of the record date falls on a non business day, the record date shall be the immediately following Business Day. All Units will rank pari passu, among Units within the same Option in each respective Plan under the Scheme, as to assets, earnings and the receipt of dividend distributions, if any, as may be declared by the Trustee. The AMC, in consultation with the Trustee reserves the right to discontinue/add more options / facilities at a later date subject to complying with the prevailing SEBI guidelines and Regulations. 5. One Time Mandate (OTM) Facility: This facility enables the Unitholder(s) to transact with in a simple, convenient and paperless manner by submitting OTM - One Time Mandate registration form to the Fund which authorizes his/her bank to debit their account upto a certain specified limit based per day (subject to the statutory limits per transaction), as and when the transaction is undertaken by the Investor, without the need of submitting cheque or fund transfer letter with every transaction thereafter. The facility would enable investment either through Systematic Investment Plan (SIP) or Lumpsum investments in the schemes of the Fund by sending instructions indicating OTM usage for transaction through online or any other mode as enabled by ITIAML from time to time. Registration of the facility or any deactivation thereof shall be carried out by the ITIAML on submission of valid written request at any Investor Service Centre of ITIAML by the Investor. ITIAML shall not be liable for execution of OTM based transaction, if any, occurring between the period of submission of discontinuation request and registration of such deactivation. Further, it may please be noted that the said facility is available for individual investors, HUFs and Proprietor Firms only. For general terms and conditions and more information, Unitholder(s) are requested to read Terms and Conditions, OTM - One Time Mandate registration form available at the Official Point of

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Acceptance of AMC, Registrar & Transfer Agent of the Fund and also available on www.itimf.com. 6. Stock Exchange Infrastructure Facility: The investors can subscribe to / switch / redeem the Units of the Scheme under “Growth” option through Mutual Fund Service System (“MFSS / NFM II”) platform of National Stock Exchange and “BSEStAR MF” platform of Bombay Stock Exchange. Please contact any of the Investor Service Centers of the Mutual Fund to understand the detailed process of transacting through this facility.

Account Statements • On acceptance of the application for subscription, an allotment confirmation specifying the number of units allotted by way of e-mail and/or SMS within 5 business days from the date of receipt of transaction request will be sent to the Unitholders registered e-mail address and/ or mobile number.

• Where investors / Unitholders, have provided an email address, an account statement reflecting the units allotted to the Unitholder shall be sent by email on their registered email address.

• The Unitholder may request for a physical account statement by writing / calling the AMC /ISC / RTA. The AMC shall dispatch an account statement within 5 Business Days from the date of the receipt of request from the Unit holder.

• Normally no Unit certificates will be issued. However, if the applicant so desires, the AMC shall issue a Unit certificate to the applicant within 5 Business Days of the receipt of request for the certificate. Unit certificate, if issued, must be surrendered along with the request for Redemption / Switch or any other transaction of Units covered therein.

Consolidated Account Statement (CAS) Consolidated account statement for each calendar month shall be issued, on or before tenth day of succeeding month, detailing all the transactions and holding at the end of the month including transaction charges paid to the distributor, across all schemes of all mutual funds, to all the investors in whose folios transaction has taken place during that month. Pursuant to SEBI Circular no. SEBI/HO/IMD/DF2/CIR/P/2016/42 dated March 18, 2016 read with SEBI/HO/IMD/DF2/CIR/P/2016/89 dated September 20, 2016, following additional disclosure(s) shall be provided in CAS issued for the half year (ended September / March): a. The amount of actual commission paid by the AMCs /Mutual Funds

(MFs) to distributors (in absolute terms) during the half-year period against the concerned investor’s total investments in each MF Scheme. The term ‘commission’ here refers to all direct monetary payments and other payments made in the form of gifts / rewards, trips, event sponsorships etc. by the AMC /MFs to the distributors. Further, the commission disclosed in CAS shall be gross commission and shall not exclude costs incurred by distributors such as Goods and Services Tax (GST) (wherever applicable, as per existing rates), operating expenses, etc.

b. The scheme’s average total expense ratio (in percentage terms) for the half-year period for the scheme’s applicable plan (regular or direct or both) where the concerned investor has actually invested in.

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Such half-yearly CAS shall be issued to all MF investors, excluding those investors who do not have any holdings in MF schemes and where no commission against their investment has been paid to distributors, during the concerned half-year period. • The AMC shall identify common investors across fund houses by their

permanent account number (PAN) for the purposes of sending CAS. • In the event the account has more than one registered holder, the first

named Unitholder shall receive the CAS. • The transactions viz. purchase, redemption, switch, dividend payout,

dividend reinvestment, systematic investment plan, systematic withdrawal plan and systematic transfer plan, carried out by the Unit holders shall be reflected in the CAS on the basis of PAN.

• The CAS shall not be received by the Unit holders for the folio(s) not updated with PAN details. The Unit holders are therefore requested to ensure that the folio(s) are updated with their PAN.

• Pursuant to SEBI Circular no. CIR /MRD /DP /31/2014 dated November 12, 2014, Depositories shall generate and dispatch a single consolidated account statement for investors (in whose folio the transaction has taken place during the month) having mutual fund investments and holding demat accounts.

• Based on the PANs provided by the asset management companies / mutual funds’ registrar and transfer agents (AMCs/MF-RTAs, the Depositories shall match their PAN database to determine the common PANs and allocate the PANs among themselves for the purpose of sending CAS. For PANs which are common between depositories and AMCs, the Depositories shall send the CAS. In other cases (i.e. PANs with no demat account and only MF units holding), the AMCs/ MF-RTAs shall continue to send the CAS to their unit holders as is being done presently in compliance with the Regulation 36(4) of the SEBI (Mutual Funds) Regulations.

• Where statements are presently being dispatched by email either by the Mutual Funds or by the Depositories, CAS shall be sent through email. However, where an investor does not wish to receive CAS through email, option shall be given to the investor to receive the CAS in physical form at the address registered in the Depository system.

Half Yearly Consolidated Account Statement A consolidated account statement detailing holding across all schemes at the end of every six months (i.e. September/ March), on or before 10th day of succeeding month, to all such Unitholders holding units in non- demat form in whose folios no transaction has taken place during that period shall be sent by email. The half yearly consolidated account statement will be sent by e-mail to the Unit holders whose e-mail address is registered with the Fund, unless a specific request is made to receive the same in physical mode. Option to hold units in dematerialised (demat) form Investors shall have an option to subscribe to/ hold the units in electronic (demat) form in accordance with the guidelines/procedural requirements as laid down by the Depositories (NSDL/CDSL) from time to time. The Applicants intending to hold Units in demat form will be required to have a beneficiary account with a Depository Participant (DP) of the NSDL/CDSL

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and will be required to mention in the application form DP’s Name, DP ID No. and Beneficiary Account No. with the DP at the time of purchasing Units.

In case investors desire to convert their existing physical units (represented by statement of account) into dematerialized form or vice versa, the request for conversion of units held in physical form into Demat (electronic) form or vice versa should be submitted along with a Demat/Remat Request Form to their Depository Participants. In case the units are desired to be held by investor in dematerialized form, the KYC performed by Depository Participant shall be considered compliance of the applicable SEBI norms. Investors desirous of having the Units of the Scheme in dematerialized form should contact the ISCs of the AMC/Registrar. For details, Investors may contact any of the Investor Service Centres of the AMC. Account Statement for demat account holders In case of Unit Holders holding units in the dematerialized mode, the AMC will not send the account statement to the Unit Holders. The demat statement issued by the Depository Participant would be deemed adequate compliance with the requirements in respect of dispatch of statements of account.

Dividend The Dividend warrants / cheque / demand draft shall be dispatched to the Unit Holders within 30 days of the date of declaration of the dividend. In the event of failure to dispatch the dividend within the stipulated 30 day period, the AMC shall be liable to pay interest @ 15 percent per annum for the delayed period, to the Unit holders. The Dividend proceeds will be paid by way of ECS / EFT / NEFT / RTGS / Direct credits/ any other electronic manner if sufficient banking details are available with the Mutual Fund for the Unitholder. In case of specific request for Dividend by warrants/cheques/demand drafts or unavailability of sufficient details with the Mutual Fund, the Dividend will be paid by warrant/cheques/demand drafts and payments will be made in favour of the Unit holder (registered holder of the Units or, if there are more than one registered holder, only to the first registered holder) with bank account number furnished to the Mutual Fund.

Redemption

The redemption proceeds shall be dispatched to the unitholders within 10 business days from the date of receipt of redemption application, complete / in good order in all respects. How to Redeem A Transaction Slip can be used by the Unitholder to request for Redemption. The requisite details should be entered in the Transaction Slip and submitted at an ISC/Official Point of Acceptance. Transaction Slips can be obtained from any of the ISCs/Official Points of Acceptance. Procedure for payment of redemption 1. Resident Unitholders Unitholders will receive redemption proceeds directly into their bank account through various electronic payout modes such as Direct credit / NEFT / RTGS / IMPS unless they have opted to receive the proceeds

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through Cheque/ Demand Draft. Redemption proceeds will be paid in favour of the Unit holder (registered holder of the Units or, if there is more than one registered holder, only to the first registered holder) through “Account Payee” cheque / demand draft with bank account number furnished to the Mutual Fund (please note that it is mandatory for the Unit holders to provide the Bank account details as per the directives of SEBI, even in cases where investments are made in cash). Redemption cheques will be sent to the Unit holder’s address (or, if there is more than one holder on record, the address of the first-named Unitholder). The redemption proceeds will be sent by courier or (if the addressee city is not serviced by the courier) by registered post / UCP to the registered address of the sole / first holder as per the records of the Registrars. For the purpose of delivery of the redemption instrument, the dispatch through the courier / Postal Department, as the case may be, shall be treated as delivery to the investor. The AMC / Registrar are not responsible for any delayed delivery or non-delivery or any consequences thereof, if the dispatch has been made correctly as stated above. 2. Non-Resident Unitholders Payment to NRI / FII Unit holders will be subject to the relevant laws / guidelines of the RBI as are applicable from time to time (also subject to deduction of tax at source as applicable).

In the case of NRIs: i. Credited to the NRI investor’s NRO account, where the payment for the

purchase of the Units redeemed was made out of funds held in NRO account; or

ii. Remitted abroad or at the NRI investor’s option, credited to his NRE / FCNR / NRO account, where the Units were purchased on repatriation basis and the payment for the purchase of Units redeemed was made by inward remittance through normal banking channels or out of funds held in NRE / FCNR account.

In the case of FIIs, the designated branch of the authorized dealer may allow remittance of net sale / maturity proceeds (after payment of taxes) or credit the amount to the Foreign Currency account or Non-resident Rupee account of the FII maintained in accordance with the approval granted to it by the RBI. The Fund will not be liable for any delays or for any loss on account of any exchange fluctuations, while converting the rupee amount in foreign exchange in the case of transactions with NRIs / FIIs. The Fund may make other arrangements for effecting payment of redemption proceeds in future. Effect of Redemption The number of Units held by the Unit Holder in his/ her/ its folio will stand reduced by the number of Units Redeemed. Units once redeemed will be extinguished and will not be re- issued. The normal processing time may not be applicable in situations where details like bank name, bank account no. etc. are not provided by investors/ Unit holders. The AMC will not be responsible for any loss arising out of fraudulent encashment of cheques and/or any delay/ loss in transit.

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Redemption by investors transacting through the Stock Exchange mechanism Investors who wish to transact through the stock exchange shall place orders for redemptions as currently practiced for secondary market activities. Investors must submit the Delivery Instruction Slip to their Depository Participant on the same day of submission of redemption request, within such stipulated time as may be specified by NSE/BSE, failing which the transaction will be rejected. Investors shall seek redemption requests in terms of number of Units only and not in Rupee amounts. Redemption amounts shall be paid by the AMC to the bank mandate registered with the Depository Participant. Redemption by investors who hold Units in dematerialized form Redemption request for Units held in demat mode shall not be accepted at the offices of the Mutual Fund/AMC/Registrar. Unit holders shall submit such request only through their respective Depository Participants.

Delay in payment of redemption / repurchase proceeds

The redemption or repurchase proceeds shall be dispatched to the unitholders within 10 Business days from the date of redemption or repurchase. The AMC shall be liable to pay interest to the Unitholders @ 15% p.a. or such other rate as may be prescribed by SEBI from time to time, in case the redemption / repurchase proceeds are not dispatched within 10 Business days from the date of receipt of the valid redemption/repurchase application, complete in all respects. However, the AMC shall not be liable to pay any interest or compensation in case of any delay in processing the redemption application beyond 10 Business Days, in case of any deficiency in the redemption application or if the AMC/RTA is required to obtain from the Investor/Unit holders any additional details for verification of identity or bank details or such additional information under applicable regulations or as may be requested by a Regulatory Agency or any government authority, which may result in delay in processing the application.

Non Financial Transactions Non financial transactions will be accepted only for such investors who hold units in physical form (i.e. by way of an Account Statement). For those investors who hold units in Demat mode, all non- financial transactions such as Change in Address, Bank Mandate, Nominee Registration etc. should be routed directly through their DP’s as per the format defined by the DPs. Non-financial transaction request from demat account holder submitted directly to the AMC/ Registrar are liable to be rejected.

Investments made in the name of a Minor through a Guardian

Pursuant to SEBI Circular No. SEBI/HO/IMD/DF3/CIR/P/2019/166 dated December 24, 2019, the following uniform process shall be applicable with respect to Investments made in the name of a minor through a guardian. i. Payment for investment by means of Cheque, Demand Draft or any

other mode shall be accepted from the bank account of the minor/Minor with guardian or from a joint account of the minor with the guardian only, else the transaction is liable to get rejected.

ii. Existing unit holders are requested to review the Bank Account registered in the folio and ensure that the registered Bank Mandate is in favour of minor or joint with registered guardian in folio. If the registered Bank Account is not in favour of minor or not joint with registered guardian, unit holders will be required to submit the change of bank mandate, where minor is also a bank account holder (either single or joint with registered guardian), before initiation any

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redemption transaction in the folio, else the transaction is liable to get rejected.

iii. Upon the minor attaining the status of major, the minor in whose name the investment was made, shall be required to provide all the KYC/FATCA details, updated bank account details including cancelled original cheque leaf of the new account and his/her specimen signature duly authenticated by banker/guardian. Investors shall additionally note that, upon the minor attaining the status of major, no further transactions shall be allowed till the status of the minor is changed to major.

iv. The standing instructions registered for Systematic Investment Plan (SIP), Systematic Transfer Investment Plan (STP), Systematic Withdrawal Plan (SWP), Dividend Transfer Plan (DTP), etc., shall be suspended when the minor attains majority, till the status is changed to major.

C. PERIODIC DISCLOSURES

Net Asset Value

This is the value per unit of the Scheme on a particular day. You can ascertain the value of your investments by multiplying the NAV with your Unit balance.

The AMC will calculate and disclose the first NAV of the Scheme within 5 business days from the date of allotment. Subsequently, the AMC will calculate and disclose the NAVs on all the Business Days. The AMC shall update the NAVs on its website (www.itimf.com) and on the website of the Association of Mutual Funds in India - AMFI (www.amfiindia.com) before 11.00 p.m. on every Business Day. In case of any delay, the reasons for such delay would be explained to AMFI in writing. If the NAVs are not available before the commencement of Business Hours on the following day due to any reason, the Mutual Fund shall issue a press release giving reasons and explaining when the Mutual Fund would be able to publish the NAV. Information regarding NAV can be obtained by the Unitholders / Investors by calling or visiting the nearest ISC. Investors may also call our Toll free number 1800-266-9603. For the methodology of calculation of repurchase price, please refer section III ‘Units and Offer’, sub section B ‘Ongoing Offer Details’, under point ‘Ongoing price for redemption (sale) / switch outs (to other schemes/plans of the Mutual Fund) by Investors’ in the SID.

Monthly / Half yearly Disclosures: Portfolio / Financial Results

This is a list of securities where the corpus of the Scheme is currently invested. The market value of these investments is also stated in portfolio disclosures.

The AMC shall disclose portfolio of the Scheme along with ISIN as on the last day of each month / half year on its website viz. www.itimf.com and on the website of AMFI viz. www.amfiindia.com within 10 days from the close of each month/ half-year respectively in a user-friendly and downloadable spreadsheet format. In case of Unitholders whose e-mail addresses are registered, the AMC shall send via e-mail both the monthly and half-yearly statement of the Scheme portfolio within 10 days from the close of each month/ half-year respectively. Further, the AMC shall publish an advertisement in all India edition of at least two daily newspapers, one each in English and Hindi, every half year disclosing the hosting of the half-yearly statement of the schemes’ portfolio(s) on the AMC’s website and on the website of AMFI. The AMC shall provide a physical copy of the statement of the Scheme portfolio, without charging any cost, on specific request received from a Unitholder.

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Half Yearly Results The Mutual Fund shall within one month from the close of each half year (i.e. 31st March and 30th September), host a soft copy of its unaudited financial results on its website www.itimf.com. The Mutual Fund shall also publish an advertisement disclosing the hosting of such financial results on its website, in at least one English daily newspaper having nationwide circulation and in a newspaper having wide circulation published in the language of the region where the Head Office of the Mutual Fund is situated. The unaudited financial results shall also be displayed on the website of AMFI.

Annual Report The scheme wise annual report shall be hosted on the website of the AMC / Mutual Fund (www.itimf.com) and AMFI (www.amfiindia.com) not later than four months (or such other period as may be specified by SEBI from time to time) from the date of closure of the relevant accounting year (i.e. 31st March each year). Further, the physical copy of the scheme wise annual report shall be made available to the Unitholders at the registered / corporate office of the AMC at all times.

In case of Unitholders whose e-mail addresses are registered with the Fund, the AMC shall e-mail the annual report or an abridged summary thereof to such Unitholders. The Unitholders whose e-mail addresses are not registered with the Fund may submit a request to the AMC / Registrar & Transfer Agent to update their email ids or communicate their preference to continue receiving a physical copy of the scheme wise annual report or an abridged summary thereof. Unitholders may also request for a physical or electronic copy of the annual report / abridged summary, by writing to the AMC at mfassist@itiorg.com from their registered email ids or calling the AMC on the toll free number 1800-266-9603 or by submitting a written request at any of the nearest investor service centers of the Fund.

Further, the AMC shall publish an advertisement in all India edition of at least two daily newspapers, one each in English and Hindi, every year disclosing the hosting of the scheme wise annual report on its website and on the website of AMFI. The AMC shall provide a physical copy of the abridged summary of the annual report, without charging any cost, on specific request received from a Unitholder.

Associate Transactions Please refer to Statement of Additional Information (SAI).

Taxation This is provided for general information only. However, in view of the individual nature of the implications, each investor is advised to consult his or her own tax advisors/authorized dealers with respect to the specific amount of tax and other implications arising out of his or he participation in the schemes.

ITI Mutual Fund is a Mutual Fund registered with SEBI and is governed by the provisions of Section 10(23D) of the Income Tax Act, 1961. Accordingly, any income of a fund set up under a scheme of a SEBI registered mutual fund is exempt from tax.

The following information is provided only for general information purposes and is based on the Mutual Fund’s understanding of the Tax Laws as of this date of Document. Investors / Unitholders should be aware that the relevant fiscal rules or their explanation may change.

There can be no assurance that the tax position or the proposed tax position will remain same. In view of the individual nature of tax benefits, each investor is advised to consult his or her own tax consultant with respect to the specific tax implications arising out of their participation in the Scheme.

Tax Rates*

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Tax Effect on Resident Investors

Effect on Mutual Fund

Tax on Dividend Taxable at slab rates Nil Capital Gains:

Long Term

Short Term

10%^

15%**

Nil

Nil

* plus surcharge and health & education cess as applicable

^ Any Long Term Capital Gains arising on transfer of unit of an equity oriented mutual fund will be taxable at 10% without indexation benefit of such capital gains exceeding Rs.1,00,000/-. Equity scheme will also attract securities transaction tax (STT) at applicable rates. Surcharge and health & educational cess will be payable in addition to the applicable taxes.

** These should be increased by the applicable surcharge i.e.in the case of individual, HUF, AOP, BOI and Artificial Juridical Person where the income exceeds Rs. 50 Lakhs but less than Rs. 1 crore surcharge @ 10% will be applicable and where the income exceeds Rs. 1 crore surcharge @ 15% shall be applicable. In the case of domestic company having total income exceeding Rs. 1 crore but less than Rs. 10 crore the surcharge applicable is 7% and on total income exceeding Rs. 10 crore surcharge applicable is 12%. In the case of foreign company having income exceeding Rs. 1 crore but less than Rs. 10 crore the surcharge rate is 2% and on income exceeding Rs. 10 crore the surcharge rate is 5%. In case of Firm, Cooperative Society and Local Authorities, surcharge @ 12% if the total income exceeds Rs. 1 Crore. Health & educational cess will be payable in addition to the applicable taxes.

W.e.f. April 1, 2020, Mutual fund shall be required to deduct TDS at 10% only on dividend payment (Above Rs 5000) & no tax shall be required to be deducted by the mutual fund on income which is in the nature of capital gain.

For further details on taxation, please refer to the Section on ‘Taxation on investing in Mutual Funds’ in ‘Statement of Additional Information (‘SAI’). Investors should be aware that the fiscal rules/ tax laws may change and there can be no guarantee that the current tax position may continue indefinitely.

Investor Services For any enquiries and/or queries or complaints in respect of any terms and conditions of/investments in this Scheme, the investors are advised to address a suitable communication to AMC and marked to the attention of Investor Relations Officer – Ms. Pallavi Singh at 022 – 66214999 and mfassist@itiorg.com. Written communications may also be forwarded to Naman Midtown, ‘A’ Wing,21st floor, Senapati Bapat Marg, Elphinstone (W), Mumbai – 400 013, India.

Our Investor Relations Executives can also be reached at the following Toll Free No. – 1800-266- 9603 any grievances with respect to transactions through BSE StAR and / or NSE MFSS / NMF-II platform, the investors / Unit Holders should approach either the stock broker or the investor grievance cell of the respective stock exchange.

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D. COMPUTATION OFNAV

The Net Asset Value (NAV) per unit of the Scheme for each option will be computed by dividing the net assets of the Scheme by the number of units outstanding on the valuation day. The Mutual Fund will value its investments according to the valuation norms, as specified in Schedule VIII of the SEBI (MF) Regulations, or such norms as may be specified by SEBI from time to time. The NAV of the Units under the Scheme will be calculated on a daily basis as shown below:

(Market / Fair Value of Scheme’s Investments + Current Assets including NAV per unit (Rs.) = Accrued Income - Current Liabilities and Provisions) No. of units outstanding under the Scheme / Option on the valuation day The NAV shall be calculated up to four decimal places. However the AMC reserves the right to declare the NAVs up to additional decimal places as it deems appropriate. Separate NAV will be calculated and disclosed for each Plan/Option. The NAVs of the Growth Option and the Dividend Option will be different after the declaration of the first Dividend. The AMC will calculate and disclose the first NAV of the Scheme within a period of 5 business days from the date of allotment. Subsequently, the NAVs will be calculated for all the business days.

Rounding off policy for NAV:

To ensure uniformity, the Mutual Fund shall round off NAVs up to four decimal places.

The fourth decimal will be rounded off to the next higher digit if the fifth decimal is or more than 5 i.e., if the NAV is Rs. 1000.13745 it will be rounded off to Rs.1000.1375.

IV. FEES AND EXPENSES This section outlines the expenses that will be charged to the Scheme.

A. NEW FUND OFFER (NFO) EXPENSES

These expenses are incurred for the purpose of various activities related to the NFO like sales and distribution fees paid, marketing and advertising, Registrar & Transfer Agents expenses, printing and stationary, bank charges etc.

In accordance with the provisions of SEBI Circular no. SEBI/ IMD/CIR No. 1/64057/06 dated April 04, 2006 and SEBI/IMD/CIR No. 4/ 168230/09 dated June 30, 2009, the NFO expenses shall be borne by the AMC /Sponsors as applicable. B. ANNUAL SCHEME RECURRING EXPENSES

These are the fees and expenses for operating the Scheme. These expenses include Investment Management and Advisory Fee charged by the AMC, Registrar & Transfer Agent’s fee, marketing and selling costs etc. as given in the table specified below: The AMC has estimated following maximum expenses for the first 500 crores of the daily net assets of the Scheme, which will be charged to the Scheme. The same may be reduced to the extent of increase in the corpus size. For the actual current expenses being charged, the Investor should refer to the website of the AMC.

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Sr. No

Expenses Head (% of Daily Net Assets

i. Investment Management & Advisory Fees

Upto 2.25%

ii. Trustee Fees iii. Audit Fees iv. Custodian Fees v. RTA Fees vi. Marketing & Selling expenses incl. agent commission vii Costs related to investor communications viii. Cost of fund transfer from location to location ix. Cost of providing account statements and dividend redemption cheques and

warrants x. Costs of statutory advertisements xi. Cost towards investor education & awareness (at least 0.02 percent) xii. Brokerage & transaction cost over and above 0.12 percent and 0.05 percent for

cash and derivative market trades respectively xiii. Goods and Services tax on expenses other than investment and advisory fees xiv. Goods and Services tax on brokerage and transaction cost xv. Other Expenses# A. Maximum total expense ratio (TER) permissible under Regulation 52 (6) (c)

(i) and (6) (a), as applicable Upto 2.25%

B. Additional expenses under regulation 52 (6A) (c) Upto 0.05%

C. Additional expenses for gross new inflows from specified cities Upto 0.30%

# Any other expenses which are directly attributable to the Schemes, may be charged within the overall limits as specified in the Regulations, except those expenses which are specifically prohibited as per Regulations. These estimates have been made in good faith as per the information available to the Investment Manager and are subject to change inter-se or in total subject to prevailing Regulations. The AMC may incur actual expenses which may be more or less than those estimated above under any head and/or in total. Type of expenses charged shall be as per the SEBI Regulations. The expenses towards Investment Management and Advisory Fees under Regulation 52 (2) and the various sub-heads of recurring expenses mentioned under Regulation 52 (4) of SEBI (MF) Regulations are apportionable without any internal cap in nature. Thus, there shall be no internal sub-limits within the expense ratio for expense heads mentioned under Regulation 52 (2) and (4) respectively. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission, etc. and no commission for distribution of Units will be paid/ charged under Direct Plan. Goods and Services tax on expenses other than the investment management and advisory fees, if any, shall be charged to the Scheme within the maximum limit of total expense ratio as prescribed under regulation 52 of the SEBI (MF) Regulations. Goods and Services tax on brokerage and transaction cost paid for execution of trade, if any, shall be within the limit prescribed under regulation 52 of the SEBI (MF) Regulations. In terms of SEBI circular no. CIR/IMD/DF/21/2012 dated September 13, 2012, the AMC shall annually set apart at least 0.02% on daily net assets within the maximum limit of recurring expenses as per Regulation 52 for investor education and awareness initiatives. The total expenses of the Scheme including the investment management and advisory fee shall not exceed the limits stated in Regulation 52(6) which are as follows:

(i) On the first Rs. 500 crores of the daily net assets – 2.25%;

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(ii) On the next Rs. 250 crores of the daily net assets – 2.00%; (iii) On the next Rs. 1,250 crores of the daily net assets – 1.75%; (iv) On the next Rs. 3,000 crores of the daily net assets – 1.60%; (v) On the next Rs. 5,000 crores of the daily net assets – 1.50% (vi) On the next Rs. 40,000 crores of the daily net assets – Total expense ratio reduction of 0.05% for

every increase of Rs. 5,000 crores of daily net assets or part thereof. (vii) On the balance of the assets – 1.05%;

In addition to the limits specified in Regulation 52 (6) of SEBI Regulations, the following costs or expenses may be charged to the Scheme under Regulation 52 (6A) of SEBI Regulations: (a) Brokerage and Transaction costs incurred for the execution of trades may be capitalized to the extent of

0.12 per cent of the value of trades in case of cash market transactions and 0.05 per cent of the value of trades in case of derivatives transactions. Any payment towards brokerage and transaction costs (including GST, if any) incurred for the execution of trades, over and above the said 0.12 per cent for cash market transactions and 0.05 per cent for derivatives transactions may be charged to the scheme within the maximum limit of Total Expense Ratio (TER) as prescribed under Regulation 52 of the SEBI (MF) Regulations.

(b) Expenses not exceeding of 0.30 per cent of daily net assets, if the new inflows from such cities as specified by SEBI/AMFI from time to time are at least – (i) 30 per cent of gross new inflows in the Scheme, or; (ii) 15 per cent of the average assets under management (year to date) of the Scheme, whichever is higher: Provided that if inflows from such cities is less than the higher of sub-clause (i) or sub- clause (ii), such expenses on daily net assets of the Scheme shall be charged on proportionate basis: Provided further that expenses charged under this clause shall be utilised for distribution expenses incurred for bringing inflows from such cities. Provided further that amount incurred as expense on account of inflows from such cities shall be credited back to the scheme in case the said inflows are redeemed within a period of one year from the date of investment. Provided further that, additional TER can be charged based on inflows only from retail investors from B30 cities in terms of SEBI circular no. SEBI/HO/IMD/DF2/CIR/P/2018/137 dated October 22, 2018 read with SEBI circular no. SEBI/HO/IMD/DF2/CIR/P/2019/42 dated March 25, 2019. For this purpose inflows of amount upto Rs 2,00,000/- per transaction, by individual investors shall be considered as inflows from “retail investor”.

(c) Goods and Services tax on investment management and advisory fees shall be charged to the Scheme, in addition to the above expenses, as prescribed under the SEBI (MF) Regulations. All Scheme related expenses including commission paid to distributors, by whatever name it may be called and in whatever manner it may be paid, shall necessarily be paid from the Scheme only within the regulatory limits and not from the books of the AMC, its Associate, Sponsor, Trustee or any other entity through any route. However, expenses that are very small in value but high in volume may be paid out of AMC’s books at actuals or not exceeding 2 bps of respective Scheme AUM, whichever is lower. A list of such miscellaneous expenses will be as provided by AMFI in consultation with SEBI. Any circular/clarification issued by SEBI in regard to expenses chargeable to the Scheme/Plan(s) will automatically become applicable and will be incorporated in the SID/SAI/KIM accordingly. The current expense ratios will be updated on the AMC website and on the AMFI website at least three working days prior to the effective date of the change. The exact web link for TER is http://www.itimf.com/statutory-disclosure/total-expense-ratio.

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Illustration: Impact of Expense Ratio on the Scheme’s return

Particulars Regular Plan Direct Plan Opening AUM A Rs. 10,000,000 Rs. 10,000,000 Opening NAV B 10.0000 10.0000 O/s Units C=a/b 1,000,000 1,000,000 Market Value of Investment (Assumed) D Rs. 10,002,650 Rs. 10,002,650 NAV before charging Expense Ratio e=d/c 10.0027 10.0027 Total Expense Ratio in % F 2.00% 1.50% Total Expense Ratio in value g=e*f 0.0005 0.0004 Closing NAV h=e-g 10.0022 10.0023 Returns without expense Ratio I 9.67% 9.67% Returns with expense Ratio J 7.67% 8.17%

Notes: 1. The above computation assumes no investment/ redemption made during the year. The investment is

made in the Growth option of the scheme. 2. The above computation is simply to illustrate the impact of expenses of the schemes. The actual

expenses charged to the schemes will not be more than the amount that can be charged to the scheme as mentioned in this SID.

3. It is assumed that expenses charged are evenly distributed throughout the year. Tax impact on customers has not been considered due to the individual nature of this impact.

4. Calculations are based on one day NAV and actual returns may differ from those considered above.

C. LOAD STRUCTURE Load is an amount which is paid by the investor to subscribe to the units or to redeem the units from the Scheme. This amount is used by the AMC to pay commission to the distributors and to take care of other marketing and selling expenses. Load amounts are variable and are subject to change from time to time. For the current applicable structure, please refer to the website of the AMC (www.itimf.com) or may call at 1800-266-9603 or your distributor.

Applicable Load Structure #

Entry Load Not Applicable Pursuant to SEBI circular no. SEBI/IMD/CIRNo.4/168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder (AMFI registered Distributor) directly by the investor, based on the investor’s assessment of various factors including service rendered by the ARN Holder.

Exit Load (as a % of Applicable NAV)

Exit Load: • If the Units are redeemed / switched out on or before 30 days from the date of allotment – 0.25%. • If the Units are redeemed / switched out after 30 days from the date of allotment – NIL Redemption of units would be done on First in First out Basis (FIFO). *The entire Exit Load, net of Goods & service tax, shall be credited to the Scheme.

# Applicable for normal subscriptions/redemptions including transactions under special products such as SIP, SWP, etc. offered by the AMC.

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There shall be no exit load for switches between the options under the same Plan. Switch of investments from Regular Plan to Direct Plan under the Scheme shall be subject to applicable exit load, unless the investments were made directly i.e. without any distributor code. However, any subsequent switch-out or redemption of such investments from Direct Plan will not be subject to any exit load. No exit load shall be levied for switch-out from Direct Plan to Regular Plan under the Scheme. However, any subsequent switch-out or redemption of such investment from Regular Plan shall be subject to exit load based on the original date of investment in the Direct Plan. There shall be no load on issue of units allotted on reinvestment of dividend for existing as well as prospective investors. The AMC/Trustee reserves the right to change/modify the Load structure of the Scheme, subject to maximum limits as prescribed under the Regulations. However, the Redemption Price will not be lower than 93% of the NAV or as permitted/ prescribed under the SEBI Regulations from time to time. Similarly, the difference between the Subscription Price and the Redemption Price shall not exceed the permitted limit as prescribed by SEBI from time to time which is presently 7% calculated on the Subscription Price. Any imposition or enhancement of Load in future shall be applicable on prospective investments only. At the time of changing the Load Structure: 1. An Addendum detailing the changes will be attached to Scheme Information Document (s) and Key Information Memorandum. The addendum may be circulated to all the distributors/brokers so that the same can be attached to all Scheme Information Documents and Key Information Memoranda already in stock. 2. The addendum will be displayed on the website of the AMC and arrangements will be made to display the addendum in the form of a notice in all the Investor Service Centres and distributors/brokers office. 3. The introduction of the Exit Load along with the details may be stamped in the acknowledgement slip issued to the investors on submission of the application form and may also be disclosed in the statement of accounts issued after the introduction of such Load. 4. A public notice shall be given in respect of such changes in one English daily newspaper having nationwide circulation as well as in a newspaper published in the language of region where the Head Office of the Mutual Fund is situated. 5. Any other measure which the Mutual Fund may consider necessary. The investors/unitholders are requested to check the prevailing load structure of the Scheme before investing. For the current applicable exit load structure, please refer to the website of the AMC (www.itimf.com) or may call at1800-266-9603 (toll free no.) or your distributor. D. WAIVER OF LOAD FOR DIRECT APPLICATIONS

Not Applicable

E. TRANSACTION CHARGES TO DISTRIBUTORS

In accordance with SEBI Circular No. IMD/ DF/13/ 2011 dated August 22, 2011, the AMC/ Fund shall deduct a Transaction Charge on per purchase /subscription of Rs. 10,000/- and above, as may be received from new investors (an investor who invests for the first time in any mutual fund schemes) and existing investors. The distributors shall have an option to either “Opt-in / Opt-out” from levying transaction charge based on the type of product. Therefore, the “Opt-in / Opt-out” status shall be at distributor level, basis the product selected by the distributor. Transaction charges shall be deducted for Applications for purchase/ subscription received through distributor/ agent as under (only if that distributor / agent has opted to receive the transaction charges):

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Investor Type Transaction Charges New Investor (First Time Mutual Fund Investor)

Transaction charge of Rs.150/- for per purchase / subscription of Rs.10,000 and above will be deducted from the subscription amount and paid to the distributor/agent of the first time investor. The balance of the subscription amount shall be invested.

Existing Investor Transaction charge of Rs.100/- for per purchase / subscription of Rs.10,000 and above will be deducted from the subscription amount and paid to the distributor/agent of the first time investor. The balance of the subscription amount shall be invested.

The transaction charges and the net investment amount and the number of units allotted will be clearly mentioned the Account Statement issued by the Mutual Fund. In case of investments through Systematic Investment Plan (SIP) the transaction charges shall be deducted only if the total commitment through SIP (i.e. amount per SIP installment x No. of installments) amounts to Rs. 10,000/-and above. In such cases, the transaction charges shall be deducted in 3-4 installments. Transaction charges shall not be deducted if: a. The amount per purchases /subscriptions is less than Rs. 10,000/-; b. The transaction pertains to other than purchases/ subscriptions relating to new inflows such as Switch/ SIP/SWP/STP etc. c. Purchases/Subscriptions made directly with the Fund through any mode (i.e. not through any distributor/ agent). d. Subscription made through Exchange Platform irrespective of investment amount.

V. RIGHTS OFUNITHOLDERS

Please refer to SAI for details.

VI. PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF INSPECTIONS OR INVESTIGATIONS FOR WHICH ACTION MAY HAVE BEEN TAKEN OR IS IN THE PROCESS OF BEING TAKEN BY ANY REGULATORYAUTHORITY

This section shall contain the details of penalties, pending litigation, and action taken by SEBI, other regulatory and Govt. Agencies.

All disclosures regarding penalties and action(s) taken against foreign Sponsor(s) may be limited to the jurisdiction of the country where the principal activities (in terms of income / revenue) of the Sponsor(s) are carried out or where the headquarters of the Sponsor(s) is situated. Further, only top 10 monetary penalties during the last three years shall be disclosed.

Not Applicable

In case of Indian Sponsor(s), details of all monetary penalties imposed and/ or action taken during the last three years or pending with any financial regulatory body or governmental authority, against Sponsor(s) and/ or the AMC and/ or the Board of Trustees /Trustee Company; for irregularities or for violations in the financial services sector, or for defaults with respect to share holders or debenture holders and depositors, or for economic offences, or for violation of securities law. Details of settlement, if any, arrived at with the aforesaid authorities during the last three years shall also be disclosed.

Not Applicable

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Details of all enforcement actions taken by SEBI in the last three years and/ or pending with SEBI for the violation of SEBI Act, 1992 and Rules and Regulations framed there under including debarment and/ or suspension and/ or cancellation and/ or imposition of monetary penalty/adjudication/enquiry proceedings, if any, to which the Sponsor(s) and/ or the AMC and/ or the Board of Trustees /Trustee Company and/ or any of the directors and/ or key personnel (especially the fund managers) of the AMC and Trustee Company were/ are a party. The details of the violation shall also be disclosed.

Not Applicable

Any pending material civil or criminal litigation incidental to the business of the Mutual Fund to which the Sponsor(s) and/ or the AMC and/ or the Board of Trustees /Trustee Company and/ or any of the directors and/ or key personnel are a party should also be disclosed separately.

Not Applicable

Any deficiency in the systems and operations of the Sponsor(s) and/ or the AMC and/ or the Board of Trustees/Trustee Company which SEBI has specifically advised to be disclosed in the SID, or which has been notified by any other regulatory agency, shall be disclosed.

Not Applicable

Notwithstanding anything contained in this Scheme Information Document, the provisions of the SEBI (Mutual Funds) Regulations, 1996 and the Guidelines there under shall be applicable.

For and on behalf of ITI Asset Management Limited Sd/- George Heber Joseph Chief Executive Officer & Chief Investment Officer

Date: June 29, 2020 Place: Mumbai

lIST OF OFFICIAl POINTS OF CONTACTS/ACCEPTANCE OF TRANSACTIONSOFFICE OF ITI ASSET MANAGEMENT lIMITEDAssam: 5H,5th Floor, Dihang Arcade, ABC, G S Road, Guwahati -781005. Chandigarh: SCO No. 2469-2470, 1st Floor, Sector 22 C, Chandigarh – 160022. Gujarat: 102, 6th Avenue, Nr. Mithakali Cross Road, Above SBI Bank, Navrangpura, Ahmadabad – 380009. 1st Floor, Mahavir Apartment, Above Swastik Police Store, Near Moti Tanki Circle, Rajkot – 360001. 303, The Emerald, Near Chakli Circle, Race Course, Vadodara – 390007. Jharkhand: 106, 1st Floor, Satya Ganga Arcade, Lalji Hirji Road, Ranchi -834001. Karnataka: Office No. 809, 8th Floor, Prestige Meridian-I, M G Road, Bengaluru-560001. Kerala: P M Arcade, 1st Floor, Kavalakkal Junction, Kaloor Kadavanthra Road, Kochi – 682017. Maharashthra: Naman Midtown, ’A’ Wing, 21st Floor, Senapati Bapat Marg, Prabhadevi, Mumbai 400 013. Rajendra Chamber, Ground Floor, Office no. 4&5, Nanabhai Lane, Opposite Akbar Ali, Near Fountain Inn Hotel, Fort, Mumbai- 400 001. Shop No. 10 & 11, Shop Zone, M G Road, Next to Bank of India, Ghatkopar-West, Mumbai-400086. Aditya Centeegra, Office No.18, 3rd Floor, Dnyaneshwar Paduka Chowk, Fergusson College Roadd, Shivaji Nagar, Pune - 411 004. New Delhi: Office No: 909 - 914, 9th Floor, Kanchanjunga Building, Barakhamba Road, Connaught Place, New Delhi - 110 001. Punjab: S.C.O 8, 1st Floor Equinox Building, Feroze Gandhi Market, Ludhiana -141001. Uttar Pradesh: 8 Upper Ground Floor, Vaishali Arcade, 6 Park Road, Hazratganj, Lucknow- 226001. Office No: 111, 1st Floor, Kan Chamber,Civil Lines, Kanpur-20800. Uttarakhand: 1st Floor, Ankur Tower, 166/296, Rajpur Road, behind HDFC Bank, Dehradun-248001. West Bengal: Neelambar Building, Unit-1F, 1st Floor, 28-B, Shakespeare Sarani, Kolkata-700017. Shop No. 11, Shelcon Plaza, 3rd Floor, Sevoke Road, Siliguri, - 734 001.

BRANCH OFFICES OF KFIN TECHNOlOGIES PRIVATE lIMITEDAndhra Pradesh: Plot No: 12-313, Balaji Towers, Suryanagar, Ananthapur Village, Anantapur 515001 • DNO-23A-7-72/73K K S Plaza Munukutla Vari Street, Opp Andhra Hospitals, R R Peta, Eluru 534002 • 2nd Shatter, 1st Floor, Hno. 6-14-48, 14/2 Lane, Arundal Pet, Guntur 522002 • Shop No:47, 2nd Floor, S Komda Shoping Mall, Kurnool 518001 • D No:16-5-66 Ramarao Complex, No:2 Shop No. 305, 3rd Floor, Nagula Mitta Road, Opp Bank Of Baroda, Nellore 524001 • D.No: 4/625, Bhairavi Complex, Upstairs Karur Vysya Bank, Gandhi Road, Proddatur 516360 • D.No.6-1-4, Rangachary Street, T. Nagar, Near Axis Bank Street, Rajahmundry 533101 • D No 4-4-97, First Floor, Behind Sri Vijayaganapathi Temple, Pedda Relli Veedhi, Palakonda Road, Srikakulam 532001 • H.No:10-13-425, 1st Floor, Tilak Road, Opp: Sridevi Complex, Tirupathi 517501 • D No : 20-20-29, 1st Floor, Surya Nagar, Kalavapuvvu Meda, Near Ayodhya Stadium, Dharmapuri Road, Vizianagaram 535002 • H.No.26-23, 1st Floor, Sundarammastreet, Gandhinagar, Krishna, Vijayawada 520010 • Door No: 48-8-7, Dwaraka Diamond, Ground Floor, Srinagar, Visakhapatnam 530016.Assam: 1st Floor, Bajrangbali Building, Near Bora Service Station, GS Road, Guwahati 781007 • N.N. Dutta Road, Chowchakra Complex, Premtala, Silchar 788001.Bihar: 2nd Floor, Chandralok Complex, Ghantaghar, Radha Rani Sinha Road, Bhagalpur 812001 • C/o. Dr Hazari Prasad Sahu, Ward No 13, Behind Alka Cinema, Begusarai (Bihar), Begusarai 851117 • Jaya Complex, 2nd Floor, Above Furniture Planetdonar, Chowk, Darbhanga 846003 • Property No. 711045129, Ground Floor, Hotel Skylark, Swaraipuri Road, Gaya 823001 • First Floor, Saroj Complex, Diwam Road, Near Kalyani Chowk, Muzaffarpur 842001 • 3A, 3rd Floor, Anand Tower, Exhibition Road, Opp ICICI Bank, Patna 800001.Chatisgarh: Shop No. 306, 3rd Floor, Anandam Plaza, Vyapar Vihar Main Road, Bilaspur 495001 • Office No. 2, 1st Floor, Plot No. 9/6, Nehru Nagar [East], Bhilai 490020 • Nidhi Biz Complex, Plot No 5, Near Patidar Bhawan, T. P. Nagar, Korba 495677 • Office No S-13 Second Floor Reheja Tower, Fafadih Chowk, Jail Road, Raipur 492001.Goa: Flat No.1-A H. No. 13/70, Timotio Bldg, Heliodoro Salgado Road Next To Navhind Bhavan (Market Area), Panjim 403001 • 2nd Floor, Dalal Commercial Complex, Pajifond, Margao 403601.Gujarat: Office No. 401, On 4th Floor, ABC-I, Off. C.G. Road, Ahmedabad 380009. • B-42 Vaibhav Commercial Center, Nr TVS Down Town Shrow Room, Grid Char Rasta, Anand  380001 • 203 Corner Point, Jetalpur Road, Baroda Gujarat, Baroda 390007 • 123 Nexus Business Hub, Near Gangotri Hotel, B/s Rajeshwari Petroleum, Makampur Road, Bharuch 392001 • 303 Sterling Point, Waghawadi Road, Bhavnagar 364001 • 123 First Floor, Megh Malhar Complex, Opp. Vijay Petrol Pump Sector - 11, Gandhinagar 382011 • Shop # 12, Shree Ambica Arcade, Plot # 300, Ward 12. Opp. CG High School, Near HDFC Bank, Gandhidham 370201 • 124-125 Punit Shopping Center, M.G Road, Ranavav Chowk, Junagadh 362001 • 131 Madhav Plazza, Opp SBI Bank, Nr Lal Bunglow, Jamnagar 361008 • FF-21 Someshwar Shopping Mall, Modhera Char Rasta, Mehsana 384002 • 311-3rd Floor City Center, Near Paras Circle, Nadiad 387001 • 103 1st Floor, Landmark Mall, Near Sayaji Library, Navsari Gujarat, Navsari 396445 • 302 Metro Plaza, Near Moti Tanki Chowk, Rajkot, Rajkot Gujarat 360001 • Office No: -516 5th Floor Empire State Building, Near Udhna Darwaja, Ring Road, Surat 395002 • 406 Dreamland Arcade, Opp Jade Blue, Tithal Road, Valsad 396001 • A-8 First Floor Solitaire Business Centre, Opp DCB Bank, GIDC Char Rasta, Silvassa Road, Vapi 396191.Haryana: 6349, 2nd Floor, Nicholson Road, Adjacent Kos Hospitalambala Cant, Ambala 133001 • A-2B 3rd Floor, Neelam Bata Road Peer Ki Mazar, Nehru Groundnit, Faridabad 121001 • No: 212A, 2nd Floor, Vipul Agora, M. G. Road, Gurgaon 122001 • Shop No. 20, Ground Floor, R D City Centre, Railway Road, Hissar 125001 • 18/369 Char Chaman, Kunjpura Road, Behind Miglani Hospital, Karnal 132001 • Preet Tower, 3rd Floor, Behind Akash Institute, Near NK Tower, G.T. Road, Panipat 132103 • Shop No. 14, Ground Floor, Delhi Road, Rohtak 124001 • 2nd Floor, DP Tower, Model Town, Near Subhash Chowk, Sonepat 131001 • B-V, 185/A, 2nd Floor, Jagadri Road, Near Dav Girls College (UCO Bank Building) Pyara Chowk, Yamuna Nagar 135001.Himachal Pradesh: 1st Floor, Hills View Complex, Near Tara Hall, Shimla 171001 • Disha Complex, 1st Floor, Above Axis Bank, Rajgarh Road, Solan 173212.Jammu & Kashmir: Gupta’s Tower, 2nd Floor CB-12, Rail Head Complex, Jammu 180012.Jharkhand: B-1, 1st Floor City Centre, Sector- 4, Near Sona Chandi Jwellars, Bokaro 827004 • 208 New Market 2nd Floor, Bank More, Dhanbad 826001 • Madhukunj, 3rd Floor, Q Road, Sakchi, Bistupur, East Singhbhum, Jamshedpur 831001 • Room No 307, 3rd Floor, Commerce Tower, Beside Mahabir Tower, Ranchi 834001.Karnataka: CTS No 3939/ A2 A1, Above Raymonds Show Room, Beside Harsha Appliances, Club Road, Belgaum 590001 • No 35, Puttanna Road, Basavanagudi, Bangalore 560004 • Shree Gayathri Towers, #4 1st Floor K.H.B. Colony, Gopalaswamy Mudaliar Road, Gandhi Nagar-Bellary 583103 • 307/9-A 1st Floor Nagarkar Colony, Elite Business Center, Nagarkar Colony, P B Road, Dharwad 580001 • D.No 162/6, 1st Floor, 3rd Main, P J Extension, Davangere Taluk, Davangere Manda, Davangere 577002 • H No 2-231, Krishna Complex, 2nd Floor, Opp., Opp. Municipal Corporation Office, Jagat, Station Main Road, Kalaburagi, Gulbarga 585105 • SAS No-212, Ground Floorsampige Road, 1st Cross, Near Hotel Souther Star K R Puram, Hassan 573201 • CTC No.483/A1/A2, Ground Floor, Shri Ram Palza, Behind Kotak Mahindra Bank Club Road, Hubli 580029 • Mahendra Arcade Opp Court Road, Karangal Padi, Mangalore 575003 • L-350, Silver Tower, Ashoka Road, Opp. Clock Tower, Mysore 570001 • Sri Matra Naika Complex, 1st Floor Above Shimoga Diagnostic Centre, LLR Road Durgigudi, Shimoga 577201.Kerala: 1st Floor, JP Towers, Mullackal, KSRTC Bus Stand, Alleppy 688011 • Second Floor, Manimuriyil Centre, Bank Road, Kasaba Village, Calicut 673001 • Ali Arcade, 1st Floorkizhavana Road, Panampilly Nagar, Near Atlantis Junction, Ernakualm 682036 • Ground Floor, Narayanan Shopping Complex, Kausthubhsree Block, Kadapakada, Kollam 691008 • 2nd Floor Prabhath Complex, Fort Road, Nr. ICICI Bank, Kannur 670001 • 1st Floor Csiascension Square, Railway Station Road, Collectorate P O, Kottayam 686002 • First Floor Peekays Arcade, Down Hill, Malappuram 676505 • No: 20 & 21, Metro Complex, H.P.O. Road, Palakkad 678001 • 2nd Floor, Akshaya Tower, Sasthamangalam, Trivandrum 695010 • 2nd Floorerinjery Complex, Ramanchira, Opp Axis Bank, Thiruvalla 689107 • 2nd Floor, Brothers Complex, Naikkanal Junctionshornur Road, Near Dhanalakshmi Bank H O, Thrissur 680001.Madhya Pradesh: 107, 1st Floor Hotel Utkarsh, J. H. College Road, Betul 460001 • Gurukripa Plaza, Plot No. 48A, Opposite City Hospital, Zone-2, M P Nagar, Bhopal 462011 • 27 RMO House, Station Road, Above Maa Chamunda Gaes Agency, Dewas 455001 • City Centre, Near Axis Bank, Gwalior 474011 • 19/1 New Palasia Balaji Corporate 203-204-205, Above ICICI Bank 19/1 New Palasia, Nearcurewell Hospital Janjeerwala Square Indore, Indore 452001 • 3rd Floor, R.R. Tower, 5 Lajpatkunj, Near Tayabali Petrol Pump, Jabalpur 482001 • House No. Hig 959, Near Court, Front Of Dr. Lal Lab, Old Housing Board Colony, Morena 476001 • 1 Nagpal Bhawan Free Ganj Road, Do Batti, Near Nokia Care, Ratlam 457001 • Shop No. 2, Shree Sai Anmol Complex, Ground Floor, Opp Teerth Memorial Hospital, Rewa 486001 • II Floor Above Shiva Kanch Mandir, 5 Civil Lines, Sagar, Sagar 470002 • 1st Floor Gopal Complex, Near Bus Stand, Rewa Road, Satna 485001 • A. B. Road, In Front Of Sawarkar Park, Near Hotel Vanasthali, Shivpuri 473551 • 101 Aashta Tower, 13/1 Dhanwantri Marg, Freeganj, ujjain 456010.Maharashtra: Yamuna Tarang Complex ,Shop No 30, Ground Floor N.H. No. 06 Murtizapur Road, Opp Radhakrishna Talkies, Akola 444004 • Shop No. 21, 2nd Floor, Gulshan Tower, Near Panchsheel Talkies

Jaistambh Square, Amaravathi 444601 • Ramkunj Niwas, Railway Station Road, Near Osmanpura Circle, Aurangabad 431005 • 24/B Raja Bahadur Compound, Ambalal Doshi Marg, Behind BSE Bldg, Fort 400001 • Shop No-6 Office No-2, 1st Floor Rauts Raghuvanshi Complex, Beside Azad Garden Main Road, Chandrapur 442402 • Ground Floor, Ideal Laundry Lane No 4, Khol Galli Near Muthoot Finance, Opp Bhavasar General Store, Dhule 424001 • 269 Jaee Vishwa, 1st Floor, Baliram Peth, Above United Bank of India, Near Kishor Agencies, Jalgaon 425001 • 605/1/4 E, Ward Shahupuri, 2nd Lane, Laxmi Niwas, Near Sultane Chambers, Kolhapur 416001 • Plot No 2/1, House No 102/1, Mata Mandir Road, Mangaldeep Appartment Opp Khandelwal Jewelers Dharampeth, Nagpur 440010 • Shop No.4, Santakripa Market G G Road, Opp.Bank Of India, Nanded 431601 • Office # 207-210, Second Floor, Kamla Arcade, JM Road, Opposite Balgandharva, Shivaji Nagar, Pune 411005 • Block No 06, Vaman Nagar Opp D-Mart, Jule Solapur, Solapur 413004 Meghalaya: Annex Mani Bhawan, Lower Thana Road, Near R K M Lp School, Shillong 793001.New Delhi: 305 New Delhi House, 27 Barakhamba Road, New Delhi 110001.Orissa: Opp Divya Nandan Kalyan Mandap, 3rd Lane Dharam Nagar, Near Lohiya Motor, Berhampur (Or) 760001 • A/181 Back Side Of Shivam Honda Show Room, Saheed Nagar, Bhubaneswar 751007 • 1-B. 1st Floor, Kalinga Hotel Lane, Baleshwar, Baleshwar Sadar, Balasore 756001 • Shop No-45, 2Nd Floor, Netaji Subas Bose Arcade, (Big Bazar Building) Adjusent to Reliance Trends, Dargha Bazar, Cuttack 753001• 2nd Floor, Main Road, Udit Nagar, Sundargarh, Rourekla 769012 • First Floor, Shop No. 219, Sahej Plaza, Golebazar; Sambalpur, Sambalpur 768001.Pondicherry: Building No:7, 1st Floor, Thiayagaraja Street, Pondicherry 605001.Punjab: 72-A, Taylor’s Road, Opp Aga Heritage Club, Amritsar 143001 • #2047-A, 2nd Floor, The Mall Road, Above Max New York Life Insurance, Bhatinda 151001 • The Mall Road Chawla Bulding Ist Floor, Opp. Centrail Jail, Near Hanuman Mandir, Ferozepur 152002 • 1st Floor, The Mall Tower, Opp Kapila Hospital, Sutheri  Road, Hoshiarpur 146001 • Office No. 7, 3rd Floor, City Square Building, E-H197 Civil Lines, Jalandhar, Jalandhar 144001 • SCO 122, Second Floor, Above HDFC Mutual Fund, Feroze Gandhi Market, Ludhiana 141001 • 1st Floordutt Road, Mandir Wali Gali, Civil Lines Barat Ghar, Moga 142001 • 2nd Floor Sahni Arcade Complex, Adj. Indra Colony Gate Railway Road, Pathankot, Pathankot 145001 • SCO 27 D, Chotti Baradari, Near Car Bazaar, Patiala 147001.Rajasthan: 302 3rd Floor, Ajmer Auto Building, Opposite City Power House, Jaipur Road, Ajmer 305001 • 137, Jai Complex, Road No- 2, Alwar 301001 • Shop No. 27-28, 1st Floor Heera Panna Market, Pur Road, Bhilwara 311001 • 70-71 2nd Floor, Dr.Chahar Building, Panchsati Circle, Sadul Ganj, Bikaner 334003 • S16/A IIIrd Floor, Land Mark Building Opp Jai Club, Mahaver Marg C Scheme, Jaipur 302001 • Shop No. 6, Ground Floor, Gang Tower, Opposite Arora Moter Service Centre, Near Bombay Moter Circle, Jodhpur 342003 • D-8, Shri Ram Complex, Opposite Multi Purpose School, Gumanpur, Kota 324007 • Address Shop No. 5, Opposite Bihani Petrol Pump, NH - 15, Near Baba Ramdev Mandir, Sri Ganganagar 335001 • First Floor, Super Tower, Behind Ram Mandir Near Taparya Bagichi, Sikar 332001 • Shop No. 202, 2nd Floor Business Centre, 1C Madhuvan, Opp G P O Chetak Circle, udaipur 313001.Tamil Nadu: 3rd Floor Jaya Enclave, 1057 Avinashi Road, Coimbatore 641018 • No 59B New Pensioner Street, Palani Road, Opp Gomathi Lodge, Dindigul 624001 • No 38/1 Ground Floor, Sathy Road, (VCTV Main Road) Sorna Krishna Complex, Erode 638003 • No. 88/11, BB Plaza, NRMP Street, K S Mess Back Side, Karur 639002 • F-11 Akshaya Plaza 1st Floor, 108 Adhithanar Salai, Egmore Opp To Chief Metropolitan Court, Chennai 600002 • Rakesh Towers 30-C Ist Floor, Bye Pass Road, Opp Nagappa Motors, Madurai 625010. HNo 45, 1st Floor, East Car Street, Nagercoil 629001 • 146/4Ramanathan Building, 1st Floor New Scheme Road, Pollachi 642002 • No 3/250, Brindavan Road, 6th Crossperumal Kovil Back Side Fairland’s, Salem 636016 • 4 - B A34 - A37, Mangalmal Mani Nagar, Opp. Rajaji Park Palayamkottai Road, Tuticorin 628003 • No 1, Basement, Nallaiyah Complex, Srinivasam Pillai Road, Thanjavur 613001 • No 23C/1 E V R Road, Near Vekkaliamman Kalyana Mandapam, Putthur, Trichy 620017 • No 669A, Kamaraj Road, Near Old Collector Office, Tirupur 641604 • 55/18 Jeney Building, S N Road, Near Aravind Eye Hospital, Tirunelveli 627001 • No. 6 Nexus Towers, 2nd Floor Officer’s Line, Above Peter England & Bata Showroom Opp. Voorhees School, Vellore 632001.Telangana: No:303, Vamsee Estates, Opp: Bigbazaar, Ameerpet, Hyderabad 500016 • 2nd Shutterhno. 7-2-607 Sri Matha, Complex Mankammathota, Karimnagar 505001 • H No:5-6-430, Above Bank Of Baroda First Floor, Beside Hdfc Bankhyderabad Road, Nizamabad 503003 • Shop No22, Ground Floor Warangal City Center, 15-1-237, Mulugu Road Junction, Warangal 506002. Tripura: Ols Rms Chowmuhani, Mantri Bari Road1st Floor Near Traffic Point, Tripura West, Agartala 799001.Union Territory: First Floor, SCO 2469-70, Sec. 22-C, Chandigarh 160022.Uttar Pradesh: House No. 17/2/4, 2nd Floor, Deepak Wasan Plaza, Behind Hotel Holiday INN, Sanjay Place, Agra 282002 • Sebti Complex Centre Point, Sebti Complex Centre Point, Aligarh 202001 • RSA Towers 2nd Floor, Above Sony TV Showroom, 57 S P Marg Civil Lines, Allahabad 211001 • House No. 290, Ground Floor, Civil Lines, Near Sahara Office, Azamgarh 276001 • 1st Floor Rear Side A -Square Building, 54-Civil Lines, Ayub Khan Chauraha, Bareilly 243001 • K. K. Plaza, Above Apurwa Sweets, Civil Lines Road, Deoria 274001 • H No 782, Shiv Sadan, ITI Road, Near Raghukul Vidyapeeth, Civil Lines, Gonda 271001 • House No. 148/19, Mahua Bagh, Ghazipur 233001 • Above V.I.P. House Ajdacent, A.D. Girls College, Bank Road, Gorakpur 273001 • FF - 31, Konark Building, Rajnagar, Ghaziabad 201001 • 1st Floor, Puja Tower, Near 48 Chambers, Elite Crossing, Jhansi 284001 • R N Complex 1-1-9-G, R. N. Complex, Opposite Pathak Honda, Above Oriental Bank Of Commerce, Jaunpur 222002 • 15/46 B Ground Floor, Opp : Muir Mills, Civil Lines, Kanpur 208001 • Ist Floor, A. A. Complex, 5 Park Road Hazratganj Thaper House, lucknow 226001 • Shop No. 9, Ground Floor, Vihari Lal Plaza, Opposite Brijwasi Centrum, Near New Bus Stand, Mathura 281001 • House No. 99/11, 3rd Floor, Opposite GSS Boy School, School Bazar, Mandi 175001 • H No 5, Purva Eran, Opp Syndicate Bank, Hapur Road, Meerut 250002 • Ground Floor, Triveni Campus, Ratan Ganj, Mirzapur 231001 • Chadha Complex, G. M. D. Road, Near Tadi Khana Chowk, Moradabad 244001 • 405 4th Floor, Vishal Chamber, Plot No.1, Sector-18, Noida 201301 • C/o. Mallick Medical Store, Bangali Katra Main Road, Dist. Sonebhadra (U.P.), Renukoot 231217 • 12/12 Surya Complex, Station Road, Uttar Pradesh, Sitapur 261001 • 18 Mission Market, Court Road, Saharanpur 247001 • 1st Floor,  Ramashanker Market, Civil Line, Sultanpur 228001 • D-64/132, 2nd Floor, Ka, Mauza, Shivpurwa, Settlement Plot No. 478 Pargana, Dehat Amanat, Mohalla Sigra, Varanashi 221010.Uttaranchal: Kaulagarh Road, Near Sirmaur Margabove, Reliance Webworld, Dehradun 248001 • Shop No. 13, 1st Floor, Bhatia Complex, Near Jamuna Palace, Haridwar 249410 • Shoop No 5, Kmvn Shoping Complex, Haldwani 263139 • Shree Ashadeep Complex 16, Civil Lines, Near Income Tax Office, Roorkee 247667.West Bengal: 112/N G. T. Road Bhanga Pachil, G.T Road Asansol Pin: 713 303 • Paschim Bardhaman West Bengal, Asansol 713303 • Thakur Market Complex Gorabazar, Post Berhampore Dist Murshidabad, 72 No Nayasarak Road, Barhampore (WB) 742101 • Plot Nos- 80/1/Anatunchati Mahalla 3rd Floor, Ward No-24 Opposite P.C Chandra, Bankura Town, Bankura 722101 • Anima Bhavan, 1st Floor Holding No. 42, Sreepally G. T. Road, West Bengal, Burdwan 713103 • Apeejay House (Beside Park Hotel), C Block, 3rd Floor, 15 Park Street, Kolkata 700016 • No : 96, Po: Chinsurah, Doctors Lane, Chinsurah 712101 • Mwav-16 Bengal Ambuja, 2nd Floor City Centre, Distt. Burdwan Durgapur-16, Durgapur 713216 • D B C Road Opp Nirala Hotel, Opp. Nirala Hotel, Opp Nirala Hotel, Jalpaiguri 735101 • Holding No 254/220, SBI Building, Malancha Road, Ward No.16, PO: Kharagpur, PS: Kharagpur, Dist: Paschim Medinipur, Kharagpur 721304. Ram Krishna Pally, Ground Floor, English Bazar, Malda 732101. Nanak Complex, 2nd Floor, Sevoke Road, Siliguri 734001.

COllECTION CENTRES OF KFIN TECHNOlOGIES PRIVATE lIMITEDMaharashtra: Shop No. 1, Ground Floor, Dipti Jyothi Co-Operative Housing Society, Near MTNL Office, P M Road, Vile Parle East, Mumbai 400057 • Gomati Smuti, Ground Floor, Jambli Gully, Near Railway Station, Borivali West, Mumbai 400 092 • Room No. 302, 3rd Floor, Ganga Prasad, Near RBL Bank Ltd, Ram Maruti Cross Road, Naupada, Thane West, Mumbai 400602 • Vashi Plaza, Shop No. 324, C Wing, 1st Floor, Sector 17, Vashi, Mumbai 400705.Tamilnadu: No. 23, Cathedral Garden Road, Cathedral Garden Road, Nungambakkam, Chennai 600034.

Notes:1. The center is only a collection point with Time-stamping impression.2. This center will not have capability of scrutiny. All transactions are scrutinize and rejections if any will

happen only at local branch.3. Any TSM failures, despite the branch efforts to maintain it, may lead to non-acceptance of transactions.4. Only fully compliant transactions are accepted at this location. In case, fresh purchase the transactions

should have the KYC acknowledgement slip along with them.5. Liquid transactions/NFOs are not handled here.6. Only Equity Schemes and few of FMP’s (supporting above guidelines only) are accepted at this location.

ITI Asset Management limitedRegistered Office:

Naman Midtown ‘A’ Wing, 21st Floor Senapati Bapat Marg, Elphinstone Road, Mumbai 400 013

CIN: U67100MH2008PLC177677

Jan.

’20

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Toll Free Number: 1800-266-9603 | Non Toll Free Number: 022-6621 4999 | Email: mfassist@itiorg.com